RBI Repo Rate Mumbai: Reserve Bank of India Governor Shaktikanta Das on Friday announced the bank's decision to hike the key lending rate by 50 basis points to 5.4 percent with immediate effect.
This is the third straight increase in the rate.
Addressing the nation, Das said: "The Indian economy is grappling with high inflation."
He further said: "Financial markets have remained uneasy despite intermittent correction."
Das said: "India is expected to be among fastest-growing economies in FY2022-23 as per IMF."
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
