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    <title>Second Bi-monthly Monetary Policy Statement, 2015-16 Dr. Raghuram G. Rajan, Governor</title>
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    <description>The Reserve Bank cut the policy repo rate by 25 basis points to 7.25%, left the cash reserve ratio at 4.0%, and maintained a suite of liquidity operations (overnight repos, 14-day and longer-term repo auctions, and variable-rate repos and reverse repos) to smooth market liquidity. The reverse repo rate is 6.25% and the marginal standing facility and Bank Rate are 8.25%. The easing is front loaded to support growth amid mixed domestic and global risks, with emphasis on bank transmission, strong food management, and complementary public investment and targeted bank capitalisation.</description>
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