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

  • 12th-century Mandir-style pillar fragments discovered in Hinganghat reflect Hemadpanti architecture and highlight the region’s medieval cultural significance.

    Read More....

  • Varanasi sets a Guinness record by planting over 2.5 lakh saplings in one hour using Miyawaki method under Namo Van urban forest project.

    Read More....

  • India enters advanced memory manufacturing as Micron’s Sanand ATMP facility begins DRAM and NAND production with $2.7 billion investment.

    Read More....

  • US and Israel launch coordinated strikes on Iran, targeting top leadership, escalating tensions in West Asia.

    Read More....

  • Oldest known hand stencil dated 67,800 years discovered in Sulawesi cave, highlighting early human symbolic expression.

    Read More....

  • Tripura launches its first State Innovation Mission with T-NEST hub, promoting startups, AI policy, and inclusive innovation.

    Read More....

  • Mangaluru Airport wins ASQ ‘Best Airport at Arrivals’ award for the second consecutive year.

    Read More....

  • NSV Kaundinya completes maiden Oman voyage and returns to Mumbai, highlighting India’s maritime heritage.

    Read More....

  • Assam distributes land pattas to over one lakh families under Mission Basundhara 3.0, enhancing legal ownership and governance.

    Read More....

  • UAE launches world’s first sovereign financial cloud, SFCSI, offering AI-driven secure digital infrastructure for financial institutions.

    Read More....