The decision was taken at the conclusion of the monetary policy committee’s three-day meeting.
Shaktikanta Das (File Photo)
New Delhi: The Reserve Bank of India (RBI) has raised its key repo rate by 50 basis points on Wednesday, taking the rate to 4.9 per cent. The decision was taken at the conclusion of the monetary policy committee’s three-day meeting.
This is the second time in five weeks when the RBI raised its repo rate. Earlier on May 4, in an unscheduled policy review, the Reserve Bank of India (RBI) announced a hike in the repo rate by 40 basis points and cash reserve ratio (CRR) by 50 basis points.
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