The Reserve Bank of India (RBI) raised the policy repo rate by 50 bps to 4.90% after the conclusion of the Monetary Policy Committee (MPC) meeting today, 8 June 2022.
MPC voted unanimously to raise repo rate and decided to change the policy stance to gradual withdrawal of accommodation.
Standing Deposit Facility and Marginal Standing Facility rates are also raised by 50 basis points. Standing Deposit Facility rate now stand at 4.65% and Marginal Standing Facility rate now stands at 5.15%.
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