December 02, 2022 17:51 (IST)
Follow us:
RBI Repo Rate RBI hikes key lending rate by 50 basis points
Mumbai: Reserve Bank of India Governor Shaktikanta Das on Friday announced the bank's decision to hike the key lending rate by 50 basis points to 5.4 percent with immediate effect.
This is the third straight increase in the rate.
Addressing the nation, Das said: "The Indian economy is grappling with high inflation."
He further said: "Financial markets have remained uneasy despite intermittent correction."
Das said: "India is expected to be among fastest-growing economies in FY2022-23 as per IMF."
Latest Headlines
Railways revenue earnings up by 76 percent in passenger segment Fri, Dec 02 2022
ASSOCHAM urges RBI to begin halt in rate hikes Fri, Dec 02 2022
Elon Musk suspends Kanye West's Twitter account for violating 'rule against incitement to violence' Fri, Dec 02 2022
Coal transport via sea route to begin for west coast states after success in eastern region Fri, Dec 02 2022
Britannia enters JV with France's Bel SA; eyes expansion, new markets in cheese segment: Reports Thu, Dec 01 2022
JSL to set up stainless steel industrial park in Odisha Thu, Dec 01 2022
RBI begins digital rupee pilot in four cities Thu, Dec 01 2022
Skoda Auto India registers 102 pc jump in Nov. sales Thu, Dec 01 2022