RBI hikes Repo Rate by 40 bps to 4.40 percent

RBI hikes Repo Rate by 40 bps to 4.40 percent

Daily Current Affairs / RBI hikes Repo Rate by 40 bps to 4.40 percent

Change Language English Hindi

Category : Business and economics Published on: May 06 2022

Share on facebook

The Reserve Bank of India (RBI) announced an increase in key interest rates by 40 basis points, the first increase since August 2018 and the sharpest in nearly 11 years.
RBI Governor Shaktikanta Das said the decision was taken in view of rising inflation, geopolitical tensions, high crude oil prices and shortage of commodities globally, which have impacted the Indian economy.
The Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) meeting held between May 2-4, 2022 has decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points (bps) to 4.40 per cent with immediate effect from 4.00% earlier.
RBI has also hiked the cash reserve ratio (CRR) by 50 basis points to 4.50 per cent effective from May 21, 2022.

Recent Post's

Cabinet approves establishment of International Potato Centre’s South Asia hub in Agra.
Read More....
₹3,626 crore sanctioned for Pune Metro Phase‑2 to connect key IT suburbs.
Read More....
Khelo India University Games 2025 to be hosted in Jaipur this November.
Read More....
Govt launches WhatsApp chatbot on MY Bharat portal for youth interaction.
Read More....
India exports first rose-scented litchi consignment from Pathankot to Qatar.
Read More....
Sugamya Bharat App revamped to enhance accessibility for elderly and disabled.
Read More....
Indian Navy hosts maritime security meeting of IONS in New Delhi.
Read More....
ICG inducts ‘Adamya’, its first fast patrol vessel with CPP technology.
Read More....
₹1,000 crore Green Data Centre foundation laid in Ghaziabad by UP CM and Union Minister.
Read More....
India launches Sagarmala Finance Corporation—first NBFC for maritime sector.
Read More....