RBI hikes key rates

The Reserve Bank of India (RBI) on Wednesday raised its key policy as the Repo rate by 25 bps to 6.25 per cent, in its second bi-monthly meeting of this fiscal.

The reverse repo rate under the LAF stands adjusted to 6.0 per cent, and the marginal standing facility rate and the Bank Rate to 6.50 per cent.

The six-member monetary policy committee of RBI headed by Governor Urjit Patel on Wednesday bit the bullet and hiked the repo the short-term lending rate by 25 basis points to 6.25 per cent.

This was the first rate hike by the Indian central bank in four-and-a-half years, since the BJP-led National Democratic Alliance government was voted into office in May 2014.

The central bank kept cash reserve ratio (CRR) and statutory liquidity ratio (SLR) unchanged at 4 per cent and 19.5 per cent

The MPC kept its policy stance to ‘neutral’. It was MPC’s second bimonthly policy review of this financial year

 

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