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

Category : Business and economics
Published on: August 06 2022 Share on facebook

  • 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.
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