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First Quarter Review of the Annual Monetary Policy for 2007-08
Thursday, August 09, 2007

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 %

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