RBI Revises Repo Rate By 5.40%, Highest Since 2019

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 2019.