RBI hikes Repo Rate by 40 bps to 4.40 percent in Monetary Policy Committee (MPC) Meet May 02 to 04, 2022
- The Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) meeting held between May 2-4, 2022 has decided to:
- Increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points (bps) to 4.40 percent with immediate effect from 4.00% earlier.
- RBI has also hiked the cash reserve ratio (CRR) by 50 basis points to 4.50 percent effective from May 21, 2022.
- Consequently the various rates are as under:
- Policy Repo Rate : 4.40%
- Standing Deposit Facility (SDF)= 4.15%
- Marginal Standing Facility Rate : 4.65%
- Bank Rate : 4.65%
- CRR : 4.50%
- SLR : 18.00%
- The MPC decided to continue with the accommodative stance.
Points to remember:
- Remember all the rates
- What is the stance of Monetary Policy Committee (MPC) meeting on May 04, 2022?- Accommodative