RBI hikes Repo Rate by 50 bps to 5.40% in Monetary Policy Committee (MPC) Meet August 05, 2022
- The Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) meeting held on August 05, 2022 has decided to:
- Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 5.40 percent with immediate effect. Earlier this was 4.90 percent.
- Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 5.40 percent with immediate effect. Earlier this was 4.90 percent.
- Consequently the various rates are as under:
- Policy Repo Rate : 5.40%
- Standing Deposit Facility (SDF)= 5.15%
- Marginal Standing Facility Rate : 5.65%
- Bank Rate : 5.65%
- CRR : 4.50%
- SLR : 18.00%
- The MPC decided to continue with the accommodative stance.
- The real GDP growth projection has been retained at 7.2 percent for FY2022-23.
Points to remember:
- Remember all the rates
- What is the stance of Monetary Policy Committee (MPC) meeting on August 05, 2022?- Accommodative
- GDP growth rate of India in FY23 as per RBI?