Central Bank raises repo rate by 25 bps to 6.5%

Daily Current Affairs / Central Bank raises repo rate by 25 bps to 6.5%

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Category : Business and economics Published on: February 09 2023

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The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) hiked the repo rate by 25 bps to 6.50 percent.
The MPC decided by a majority of 4 out of 6 to increase the policy repo rate with immediate effect.
The central bank had raised the key rate by 35 basis points (bps) in the December policy after delivering three consecutive hikes of 50 bps.
Marginal Standing Facility (MSF) rate was also hiked by 25 bps to 6.75 percent.
RBI left the CRR untouched. Cash Reserve Ratio (CRR) is the deposit that banks are mandated to maintain by the RBI as reserves in the form of liquid cash.

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Central Bank raises repo rate by 25 bps to 6.5%