Mumbai, April 20 (Inditop.com) Following are the highlights of the annual policy statement for fiscal 2010-11 presented by Reserve Bank of India Governor D. Subbarao before chief executives of commercial banks here Tuesday:

– Cash reserve ratio hiked by 25 basis points to 6.0 percent and to take effect from April 24

– Move to suck out excess liquidity worth Rs.12,500 crore from system

– Bank rate retained at 6.0 percent

– Repo rate hiked by 25 basis points to 5.25 percent

– Reverse repo rate increased by 25 basis points to 3.75 percent

– India’s economic growth projected at 8 percent with upward bias for current fiscal

– Annual inflation rate projection at 5.5 percent

– Real economic growth for 2009-10 may have settled at 7.2-7.5 percent

– Inflationary pressures have accentuated in the recent period

– Inflation risk looms large due to domestic demand and price rise in global commodities

– Reserve Bank to ensure price stability and anchor inflation expectations

– Money supply to grow at 17 percent in 2010-11

– Deposits of commercial banks to grow by 18 percent

– First quarter review of monetary policy for 2010-11 will be announced on July 27