 "RBI governor Shaktikanta Das")
The central bank’s monetary policy committee (MPC) on Wednesday voted unanimously to increase repo rate by 40 basis points (bps) in an off-cycle meeting to tame inflation, which has remained elevated for some time now. The repo rate has been increased for the first time since August 2018.
The repo rate, after the surprise move, now stands at 4.40 per cent, with immediate effect. Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 per cent; and the marginal standing facility (MSF) rate and the Bank Rate to 4.65 per cent.
The MPC, however, decided to remain accommodative while focusing on
