RBI hikes repo rate by 25 basis points to 6.5 per cent for the second time
Mumbai, Aug 1 (IBNS): The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday raised the repo rate by 25 basis point to 6.5 per cent, reports said.
Consequently, the reverse repo rate under the LAF stands adjusted to 6.25% and marginal standing facility rate and Bank Rate to 6.75 per cent.
The central bank had hiked interest rates by 25 basis points in June.
This is now the first time since October 2013 that the central bank has raised the repo rate at two consecutive policy meetings.
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