RBI Hikes Key Rate By 0.50% To 5.40%, Highest Since 2019

Daily Current Affairs / RBI Hikes Key Rate By 0.50% To 5.40%, Highest Since 2019

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Category : Business and economics Published on: August 06 2022

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The Reserve Bank of India hiked its key lending rate by 50 basis points to pre-pandemic levels of 5.40 percent.
It’s a third increase in a row to tame surging inflation which has remained above the upper end of the central bank's target this year.
The policy or the repo rate is the interest rate at which the RBI lends short-term funds to banks.
In line, the standing deposit facility (SDF) rate will be 5.15 per cent and the marginal SDF will be 5.65 per cent.