Saturday, 25 March 2023



LATEST NEWS To come back after two years and win the IPL like MS Dhoni did is amazing : Sunil Gavaskar 'Only SC should pronounce final verdict': Stalin flays BJP on Rahul's disqualification Ellie Goulding releases new single 'By the End of the Night' IPL 2023 : We're going to see the real Prithvi Shaw this season : Ricky Ponting Mumbai man goes on stabbing spree in residential building, kills 3, injures 2 Can't allow our sea routes to be used for transporting drugs : Amit Shah Ammy Virk & Pari Pandher’s Upcoming Film Annhi Dea Mazaak Ae Gets A New Release Date Ni Main Sass Kuttni 2: Mehtab Virk & Tanvi Nagi Announce New Release Date Of Upcoming Sequel "Punjab Has To Be Made Punjab Again, Not Afghanistan": Chief Minister's Appeal To Three Crore People Of Punjab Aman Arora Asks DGR Officials To Submit List Of Least & Best Performing Districts Vigilance Bureau arrests woman accused in embezzlement of housing grant meant for homeless "Khed Maidan Har Pind Di Pehchan" campaign launches from Ferozepur district World TB Day: People Can Avail Free Treatment For TB At Punjab Government Hospitals Fourth day of tribal youth exchange by Nehru Yuva Kendra Guru Ravidass Bani Adhyayan Centre: AAP govt releasing Congress govt’s grant again: MLA Vikramjit Singh Chaudhary Beehives Distributed in Pulwama Rajeev Chandrasekhar launches Skill hub portal Ludhiana Police Commissionerate arrest chain snatcher within hours of incident GOVT ITI, Rupnagar signs MOU with CLAAS INDIA Pvt LTD MP Sanjeev Arora along with others inaugurated Mobile Van Clinic under DMCH outreach program The Holy Wonders Smart School organised Graduation Day with great fervor and gaiety


RBI's MPC hikes policy rate by 25 bps

Reserve Bank of India, RBI, Monetary Policy Committee, MPC, Chennai

Web Admin

Web Admin

5 Dariya News

Chennai , 08 Feb 2023

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent. Wednesday's MPC meeting is the last one for this fiscal.

The repo rate is the rate at which the RBI lends to the banks. Announcing the hike, RBI Governor Shaktikanta Das said the MPC decided to hike the policy rate by 25 bps to 6.5 per cent.

As expected, there was a split in the rate hike decision with four members voting for the hike and two against. He said the 25 bps hike was considered correct at this juncture. It also provides an elbow room to look at the incoming data.

According to Das, after the repo rate hike the standing deposit facility (SDF) rate stands adjusted to 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.

He said the MPC also decided to keep a vigil on the inflation rate and it remains within the band. Das said the inflation is expected to be around 5.6 per cent during the fourth quarter of FY23.

On the growth front, Das said the gross domestic product (GDP) is expected to grow at 6.4 per cent during 2023-24 with Q1 growth rate at 7.8 per cent, Q2-6.2 per cent, Q3 6 per cent and Q4 5.8 per cent and the risks are evenly balanced.

According to him, the inflation for the current fiscal 2022-23 will be at 6.5 per cent and for Q4 at 5.7 per cent. As regards the CPI inflation for next fiscal, that is, 2023-24 at 5.3 per cent with Q1 at 5 per cent, Q2 5.4 per cent, Q3 5.4 per cent and Q4 5.6 per cent.


Tags: Reserve Bank of India , RBI , Monetary Policy Committee , MPC , Chennai



related news




Photo Gallery



Video Gallery



5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2023 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD