The Reserve Bank of India revised the benchmark lending rate, Repo Rate by 5.40% or 50 basis points, on August 5. RBI Governor Shaktikanta Das announced the latest hike, the repo rate or the short-term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15%. Notably, this is the third time after the Covid-19 pandemic, that the reserve repo rate has been hiked, also the highest since… read-more
RBI has announced to increase the policy repo rate by 50 basis points, to 4.9%, to tame the rising inflation in the country. Notably, this is the second hike in five weeks. The decision has been taken during RBI's three-day Monetary Policy Committee (MPC) meeting. Furthermore, the Standing Deposit Facility (SDF) rate stands at 4.65%, and Marginal Standing Facility (MSF) rate at 5.15%.
The RBI Governor Shaktikanta Das announced a 40 bps hike in repo rates, due to which money loans will be expensive. On May 4, Das said after unanimous votes of the Monetary Policy Committee, the repo rate has been increased by 40 basis points, citing persistent inflationary pressures in the economy. Moreover, the amount of deposits in bank rate is 4.5%. The hike will be effective from May 21.
Courtesy: The Free Press Journal