BusinessRBI Raises Repo Rate for First Time Since February 2023
The Reserve Bank of India, led by Governor Sanjay Malhotra, raised the repo rate by 25 basis points (0.25%) after a three-day Monetary Policy Committee meeting. This is the first rate hike since February 2023, signaling a shift to 'calibrated tightening' to control inflation amid strong economic activity. Malhotra stated no rate cuts are expected soon, with future moves depending on economic conditions and inflation. He also commented on bank credit growth, NBFC asset quality, and UPI transaction fees.
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