Here are the highlights of RBI monetary policy

The following are the highlights of the fifth bi-monthly monetary statement for 2018-19:

* RBI keeps key lending rate (repo) unchanged at 6.5 pc

* Reverse repo rate stands at 6.25 pc, bank rate at 6.75 pc, CRR at 4 pc

* Projects retail inflation to be between 2.7-3.2 pc in October-March

* Retains GDP growth estimate at 7.4 pc for current fiscal

* Projects April-September growth for 2019-20 at 7.5 pc with downside risks

* Says time apposite to strengthen domestic macroeconomic fundamentals

* Fiscal discipline critical to create space and crowd-in private investment

* Lower rabi sowing may adversely affect agriculture, rural demand

* Financial market volatility, slowing global demand and rising trade tensions pose negative risk to exports

* Decline in crude oil prices is expected to boost growth prospects

* Credit offtake strengthened even as global financial conditions tightened

* Next meeting of the MPC on February 5-7.