India To Be Among Fastest Growing Economies Despite Global Challenges: RBI


Mumbai: India is expected to be among the fastest growing major economies this fiscal, geopolitical turbulence notwithstanding, RBI Governor Shaktikanta Das opined at last month’s meeting of the rate setting panel MPC while going with the majority to raise the repo rate by 50 basis points to tame inflation.

On September 30, the six-member Monetary Policy Committee (MPC), headed by Das, had raised the short-term lending rate for the third consecutive time by 50 basis points to take the repo rate to 5.9 per cent. In May, the repo rate was hiked by 40 basis points.

Except for Ashima Goyal, who favoured a 35 basis points hike, the other five members had voted for 50 basis points increase in the repo rate.

As per the minutes of the MPC meeting released by the RBI on Friday, Governor Das had said that economic activity was steadily improving, though there were mixed signals.

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