RBI Hikes Repo Rate By 50 Bps

The Reserve Bank of India's Monetary Policy Committee announced a 50 basis points repo rate hike to 5.9% on Friday. With this, the central bank has raised benchmark interest rate by a total 1910 basis points to counter the sticky inflation in the economy. The monetary policy committee remains focused on withdrawal of accommodation to ensure that inflation remains within target while supporting growth, RBI Governor Shaktikanta Das said on Friday.

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