PUNIT PARANJPE via Getty Images RBI Governor Shaktikanta Das at a news conference at the RBI head office in Mumbai on 4 April 2019.

Mumbai — Here are the highlights of the second bi-monthly monetary policy announced by the RBI on Thursday:

— Repo rate reduced by 25 bps to 5.75 pc for third time in a row

— Reverse repo rate now stands at 5.50 pc, marginal standing facility (MSF) rate 6 pc

— RBI changes policy stance to accommodative from neutral

— Cuts GDP growth forecast to 7pc from 7.2 pc for FY20

— Raises retail inflation forecast for Apr-Sept to 3-3.1 pc and 3.4-3.7 pc in October-March

— Waives RTGS and NEFT charges to promote digital transactions

— Projects upward bias in food inflation in near term due to rising prices of food items