RBI hikes key lending rate by 50 bps to 5.9 pc to quell inflation

The Reserve Bank of India (RBI) on Friday announced an increase in the policy repo rate by 50 basis points to 5.9% with immediate effect. RBI Governor Shaktikanta Das made the announcement.   

RBI

The Reserve Bank of India (RBI) on Friday announced an increase in the policy repo rate by 50 basis points to 5.9%. The Monetary Policy Committee (MPC) of the RBI hiked the repo rate with immediate effect.

RBI Governor Shaktikanta Das made the announcement about the hike today which is aimed to subdue the inflation.