November 19, 2022
On Friday, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) raised the repo rate by 50 basis points to 5.4%. The repo rate is the interest rate at which the RBI lends to commercial banks. One basis point equals 0.01%. With this, the repo rate is now higher than in February 2020, the early stages of the covid pandemic.
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