RBI Hikes Repo Rate By 50 Bps To Tame Inflation; Repo Rate At 5.40%
To tackle high inflation in the country, RBI's monetary policy committee has raised the repo rate by 50 bps, to 5.40%. Notably, the new repo rate is higher than that of pre-pandemic levels, which was 5.15%. Notably, demand in the economy is typically suppressed by increasing interest rates. The move "might have an immediate impact on home buying for short term," said… read-more
Tags: RBI, Inflation, repo rate, Bank Rate, Shakti Kanta Das
RBI To Soon Adopt CBDC, Discusses Introduction Of Graded Approach
RBI has expressed positivity towards introducing a graded approach to adopt Central Bank Digital Currency (CBDC). It stated that the CBDC will be introduced in conformity with the objectives of the monetary policy, financial stability and efficient operations of currency and payments systems. Currently, the RBI is reportedly studying the design elements of CBDC after evaluating the pros and cons of introducing such a thing in India.
Tags: CBDC, Digital Currency, RBI, Shakti Kanta Das, Currency