RBI Repo Rate Hike

The Reserve Bank of India hiked the repo rate, the rate at which RBI lends money to commercial banks by 50 bps again.

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Taking into account the prevailing adverse global environment, resilience in domestic economic activity and uncomfortably high inflation level, the policy repo rate was hiked by 50 bps to 5.40 per cent by RBI. This also brought about hikes in the Standing Deposit Facility (SDF) rate adjusted to 5.65 per cent and the Marginal Standing Facility (MSF) rate and the Bank Rate to 6.15 per cent. The Monetary Policy Committee (MPC) decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the