BusinessRBI Raises Repo Rate for First Time Since February 2023 Amid Inflation
The Reserve Bank of India (RBI) increased the repo rate by 25 basis points to 5.5%, marking its first hike since February 2023, due to rising inflation concerns. The Monetary Policy Committee (MPC) unanimously approved the move and shifted the stance to "calibrated tightening." The Standing Deposit Facility rate is now 5.25%, and the Marginal Standing Facility and Bank Rate rose to 5.75%. RBI Governor Sanjay Malhotra stated rate cuts are unlikely soon.
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