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HomeAsia Pacific NewsIndiaRBI will increase repo charge by 50 foundation factors

RBI will increase repo charge by 50 foundation factors

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RBI will increase repo charge by 50 foundation factors

Reserve Bank of India (RBI) as soon as once more elevated its key rate of interest by 50 bps on June 8, 2022, in a bid to focus on rising inflation.

The repo charge — the speed at which RBI lends to industrial banks — stands at 4.90%. Last month the central financial institution hiked the repo charge to 4.40% from a report low of 4% is the primary since August 2018 in addition to the primary occasion of the RBI governor-headed financial coverage committee (MPC) holding an unscheduled assembly for elevating rates of interest.

The Standing Deposit Facility (SDF) charge and the Marginal Standing Facility (MSF) charge have been accordingly adjusted increased by the identical quantum to 4.65% and 5.15%, respectively.

The financial coverage committee (MPC) voted unanimously to extend charge.

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