Dr. Y Venugopal Reddy, Governor, Reserve Bank of India submitted the First Quarter Review of the Annual Monetary Policy for the Year 2007-08. The highlights of the report are:
| Growth in housing loans |
|
24.6% |
| Growth in real estate loans |
|
69.8% |
| Inflation, as on 14th July, 2007 |
|
4.4% |
5.9% in March 2007 |
| RBI’s net foreign currency assets |
|
Rs.72, 947 crore (April to June 2007) |
Rs.30,663 crore (April to June 2006) |
| BSE Sensex (1978-79=100) |
|
15,795 on July24, 2007 |
13,072 (March 31, 2007) |
| Net capital flows |
|
USD 44.9 billion in 2006-07 |
USD 24.3 billion in 2006-07 |
| Inward FDI |
|
USD 8.4 billion in 2006-07 |
USD 23.4 billion in 2005-06 |
| NRI Deposits |
|
USD 3.9 billion in 2006-07 |
USD 2.8 billion in 2005 - 06 |
| Foreign Exchange Reserves |
|
USD 222.0 billion on July 20, 2007 |
- |
| FII inflows |
|
USD 8.4 bet. April to July 13, 2007 |
USD 2.0 in 2006-07 |
| Gross FDI inflows |
|
USD 1.6 billion (April 2007) |
Rs. 0.6 billion (March end 2006) |
| Exchange Rate |
|
June 30, 2007 |
March 31, 2007 |
| Against the US dollar |
|
Rs.40.70 |
Rs.43.59 |
| Against the euro |
|
Rs.55.12 |
Rs.58.14 |
| Against the pound sterling |
|
Rs.81.76 |
Rs.58.14 |
| Against the Japanese yen |
|
Rs.33.04 per 100 yen |
Rs.36.89 per 100 yen |
Key Bank Rates
- Bank Rate stays at 6%
- Repo Rate stays at 7.75%
- Reverse Repo Rate 6%
Cash Reserve Ratio
by 50 basis points to 7%, w.e.f. August 4, 2007
| Interest Rates of Banks |
July 2007 |
March 2007 |
| Deposits of above one-year maturity (public sector banks) |
7.25-9.60 % |
7.25-9.50 % |
| Deposits of 1 to 3 years maturity (private sector banks) |
6.75-10.25 % |
6.75-9.75 % |
| Deposits above 3 years maturity (private sector banks |
7.50-10.00 % |
7.75-9.60 % |
| Deposits of 1 to 3 years maturity (foreign banks) |
3.50-9.50 % |
2.50-9.50 % |
