Monetary policy: RBI hikes repo rate by 50bps to 5.9%
Image Credit: bfsi.economic times
The Reserve Bank of India (RBI) has decided to hike the repo rate by 50 basis points (bps) to 5.9%, Governor Shaktikanta Das announced on Friday. The announcement comes only a month after the RBI hiked the lending rate by another 50 bps. This is the fourth by the central bank this fiscal year and puts the repo rate at a three-year high.