TNI Bureau: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) hiked the repo rate by 50 basis points (bps) to 5.90 per cent with immediate effect. This was announced by RBI Governor Shaktikanta Das on Friday.
Notably, this is the fourth such hike by the Reserve bank of India in this financial year.
Earlier, the RBI had hiked the repo rate by 40 bos in an off-cycle meeting in May and 50 bos in June and August.
Notably, the raging inflation and a falling rupee which hit an all-time low earlier this week following a strengthening of the dollar can be the reason behind the Repo hike.