News > RBI raises repo rate by 50 bps to 4.90%

RBI raises repo rate by 50 bps to 4.90%

The Free Press Journal | 08/06/2022 10:33 AM | Click to read full article

The RBI Monetary Policy Committee (MPC) votes unanimously to 50 bps to 4.90 percent. Governor Shaktikanta Das on June 8 announced that the central bank has raised key rates by 50 bps to 4.90 percent.

MPC vote was unanimous and has decided to keep stance withdrawal from accommodative. The policy repo rate is currently at 4.40 percent, after the MPC's surprise move to hike the repo rate — the rate at which the RBI lends money to commercial banks — by 40 basis points.