RBI increases repo rate by 50 basis points

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By  India Blooms News Service   Sep 30, 2022

Mumbai: RBI Governor Shaktikanta Das on Friday said the central banks Monetary Policy Committee (MPC) has hiked the repo rate by 50 basis points (bps).

The hike has led the figure to touch a three-year high of 5.9 percent.

In his address, Das said: The global economy is in eye of storm.

He said despite the situation, India has so far withstood shocks over the last two years.