The central bank raised the repo rate by 40 basis points to 4.40% following a emergency meeting earlier this month.
For new customers, on loans upto Rs 30 lakh, interest rate charged will be 7.10 per cent.
For the RBI, a correct reading of its mandate would have been that the inflation target is 4%, not 6%. And action to raise interest rates should have begun last year, writes T N Ninan
Non-bank finance companies (NBFCs), however, may feel more heat, except those engaged in mortgage financing
Cost of borrowing to go up; analysts say robust tax revenues crucial
BOB withdraws interest rebates for home, car loans
The 10-year government bond shot up 26 bps, with the street expecting another rate hike in the June policy
RBI announcement saw the markets tumble, with the S&P BSE Sensex slipping over 1,100 points in intraday deals to around 55,800 levels.
The Russia-Ukraine conflict has significantly impacted the trajectory of inflation
RBI Monetary policy LIVE updates: As expected by market participants, RBI retained status quo on key interest rates. Governor Shaktikanta Das said. "Approach needs to cautious, but proactive". Stay tu
Expectations are for the RBI to revive open-market operations or resort to Operation Twists, wherein it buys longer bonds and sells shorter-dated notes, to support the market amid record debt supply
Treasury executives say liquidity surplus continues to be sizeable
The Reserve Bank of India kept the key policy rates unchanged in its monetary policy review, surprising most experts who were betting on a reverse repo rate hike. Find out what the status quo mean
Rampant corruption, double digit inflation, policy paralysis were part of the dark age under Congress rule, says Sitharaman
The new timings for the fixed rate reverse repo operations and MSF operations will be from 1730 hrs to 2359 hrs, said RBI in a statement
RBI monetary policy 2022: 'India is charting a different course of recovery than the rest of the world, to be the fastest-growing economy,' says RBI governor
Liquidity tightness has led to some short-term market rates rising above the Repo Rate. This nervousness in the bond markets could make Shaktikanta Das's task more challenging. Let's see how
The Reserve Bank of India on Monday said it will be conducting an overnight variable rate repo auction under liquidity adjustment facility (LAF) for an amount of Rs 75,000 crore today.
Central bank has worked to keep borrowing costs at a record low to ensure a durable economic recovery in the face of risks from the omicron coronavirus variant.
State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders.