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    <title>Second Bi-Monthly Monetary Policy Statement, 2014-15 By Dr. Raghuram G Rajan, Governor Monetary and Liquidity Measures</title>
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    <description>The statement maintains the policy repo rate and CRR while reducing the Statutory Liquidity Ratio by 50 basis points, curtailing access to export credit refinance and introducing a compensatory special term repo facility to fully offset that reduction. It preserves term repos to manage liquidity, links further SLR changes to fiscal consolidation, and commits to active liquidity management to support credit flow. Additional measures expand participation in exchange traded currency derivatives, raise the Liberalised Remittance Scheme limit, and relax rules on carriage of domestic currency subject to exclusions and forthcoming operational guidelines.</description>
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