The Reserve Bank of India on Wednesday announced a hike in the repo rate by 50 basis points to 4.90 per cent. The decision was announced by RBI Governor Shaktikanta Das after three-day deliberations of the Monetary Policy Committee (MPC). Last month, the MPC raised the key policy rate (repo) by 40 basis points to 4.4 per cent to tame the rising inflation. It was the first-rate hike since August 2018.
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