Reserve Bank of India raises repo rate
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E-mail Xinhua, December 7, 2022
MUMBAI, Dec. 7 (Xinhua) -- India's central bank the Reserve Bank of India (RBI) on Wednesday increased the repo rate by 35 basis points (bps) to 6.25 percent, thus raising the possibility of an increase in the monthly installments payable to repay different types of loans.
The RBI has been taking decisions to hike repo rates in a bid to tame inflation amid rising global economic concerns. The bank's current decision was taken based on the assessment done at the Monetary Policy Committee meeting.
Earlier, the bank had increased the repo rate by 50 bps to 5.9 percent in September.
Before that, in its off-cycle monetary policy review in August, the RBI increased the repo rate by 50 bps to 5.4 percent.
In May the RBI had hiked the policy repo rate by 40 bps or 0.4 percent to 4.4 percent. Then in June, it further raised the rate to 4.9 percent, a 50-bps increase. Enditem
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