Central Bank raises repo rate by 25 bps to 6.5%

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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