RBI hikes repo rate by 50 basis points to 5.9%

RBI hikes repo rate by 50 basis points to 5.9%: The Reserve Bank of India (RBI) has increased repo rate by a half percent to 5.9%.

October 2022 Current Affairs Quiz

Accordingly, Standing Deposit Facility stands adjusted to 5.65%, and Marginal Standing Facility and Bank rate stand adjusted to 6.15%.

Since May 2022, he RBI has raised the repo rate by 190 basis points. The Real GDP for 2022-23 is projected to grow at 7.0%. The RBI has retained its inflation projection at 6.7 per cent for this fiscal year. India’s foreign exchange reserves: $537.5 billion.