In a major business development, the Reserve Bank of india (RBI) kept repo rate unchanged at 6.5%. The last time RBI Monetary Policy Committee announced a hike in reserve repo rate by 25% was in 2023 February. The decision was taken considering the current inflation and economic crisis, globally. However India and its made in India initiative is working wonders, with India maintaining its economic situation.
Courtesy: Live Mint
The Reserve Bank of India hiked the repo rate by 25 basis points to 6.5%, on February 8. Governor Shaktikanta Das announced the decision of the monetary policy committee of six members, taken with a majority of 4 votes. In December 2022, the repo rate was raised by 0.35 percentage points to 6.25%. While repo rate hiked, there was no change in the reverse repo rate of 3.35%.
Courtesy: Hindustan Times
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
Aiming to curb rising domestic inflation in India, the Reserve Bank of India's monetary policy committee, held a meeting, to discuss various monetary policies. The six-member panel commenced the meeting on August 3, which will issue a revision of the interest rate hike, which is currently at 4.90%. Furthermore, the outcome of the recently concluded RBI Monetary Policy Committee will be announced in a press conference, on August 5.