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Full text of RBI Monetary policy: Repo rate hiked by 25 bps after 4 years

The six-member Monetary Policy Committee (MPC) kept its stance neutral, despite a repo rate increase

(From left) RBI Governor Urjit Patel, Executive Director M D Patra, Deputy Governors N S Vishwanathan, B P Kanungo and  Viral Acharya during a press conference in Mumbai on Thursday. File photo: Kamlesh Pednekar
(From left) RBI Governor Urjit Patel, Executive Director M D Patra, Deputy Governors N S Vishwanathan, B P Kanungo and Viral Acharya during a press conference in Mumbai on Thursday. File photo: Kamlesh Pednekar

The Reserve Bank of India (RBI) on Wednesday announced a 25-basis-point hike in the repo rate to 6.25 per cent, in line with market expectations. The six-member Monetary Policy Committee (MPC) kept its stance neutral, despite a repo rate increase. All of the six members of the MPC, including Governor and MPC Chairman Urjit Patel voted in favour of a rate hike. Here is the full text of RBI’s Second Bi-monthly Monetary Policy Statement:  On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) ...