RBI’s big announcement, repo rate increased by 50 basis points to 5.9% – न्यूज़लीड India

RBI’s big announcement, repo rate increased by 50 basis points to 5.9%


Business

oi-Neeraj Kumar Yadav

,

Updated: Friday, September 30, 2022, 11:02 [IST]

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New Delhi, 30 September. The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday increased the repo rate by 50 basis points (bps) to 5.90 per cent. RBI Governor Shaktikanta Das gave this information. Das said that after two shocks of the coronavirus pandemic and the conflict in Ukraine, we are now in the middle of another setback. This has arisen because of aggressive monetary policies brought in by global central banks.

rbi reporate

Repo rate hiked to reduce inflation
The increase in the repo rate by RBI has been done to control inflation. The repo rate which was 5.40 percent at the time of Corona, has now increased to 5.90. In such a situation, it is believed that this step of RBI will curb inflation a bit. At the same time, the increase in the repo rate is being seen in the room of big shock in the festive season. Because after increasing the repo, other loans including home loans, auto loans will become expensive. In such a situation, the current EMI of the people can also increase.

What is report?
Repo is the rate at which the Reserve Bank of India (RBI) lends funds to commercial banks when required. Through this central banks control inflation. This is the third hike since the start of the current fiscal, taking the rate back to pre-pandemic levels to ease inflationary pressures. Let us tell you that earlier, the six-member Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das started deliberations on the bi-monthly policy review on Wednesday, after which this decision has been taken today.

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english summary

RBI hikes repo rate by 50 basis points says shaktikanta das



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