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RBI increases repo rate to 6.5 pct RBI Repo Rate
Image Credit: Twitter videograb

RBI increases repo rate to 6.5 pct

India Blooms News Service | @indiablooms | 08 Feb 2023, 10:20 am

Mumbai: RBI Governor Shaktikanta Das on Wednesday announced the decision to hike repo rate by 25 basis points to 6.5 percent.

This is the first Monetary Policy Statement issued in 2023.

Announcing the policy, RBI governor, Shakti Kanta Das said, the repo rate is considered appropriate at this juncture.

He said RBI sees FY 24 GDP growth at 6.4 pc.

Amid volatile global development, Indian economy remains resilient, Mr Das said.

The MPC decided 4: 2 vote to remain focussed on withdrawal of accomodate policy.