RBI Hikes Key Interest Rate By 50 Bps To 4.9%

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New Delhi: In a bid to tame the soaring inflation in the country, the Reserve Bank of India (RBI) on Wednesday hiked key repo rate by 50 basis points (bps) to 4.90 per cent.

RBI Governor Shaktikanta Das had already indicated that there may be another hike in the repo rate though he refrained from quantifying it.

Further, Das also said that the MPC has unanimously decided to keep the policy stance of ‘withdrawal of accommodation’.

RBI Governor Shaktikanta Das had already indicated that there may be another hike in the repo rate though he refrained from quantifying it.

Further, Das also said that the MPC has unanimously decided to keep the policy stance of ‘withdrawal of accommodation’.

The MPC also mentioned that India’s real gross domestic product (GDP) forecast is retained at 7.2 per cent for the current financial year, while the CPI-based inflation is projected at 6.7 per cent.

The Standing Deposit Facility (SDF) rate and the Marginal Standing Facility Rate (MSFR) were accordingly adjusted higher by the same quantum to 4.65 per cent and 5.15 per cent, respectively.

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