In the midst of inflation, RBI gave a big blow, taking loans became more expensive

Reserve Bank of India (RBI) Governor Shaktikanta Das is announcing the bi-monthly monetary policy (RBI MPC) decisions on Friday. In the midst of rising inflation, there are many challenges before the RBI, including giving further momentum to the economy. In the MPC meeting of RBI, along with the inflation rate, the economic scenario was also
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In the midst of inflation, RBI gave a big blow, taking loans became more expensive


Reserve Bank of India (RBI) Governor Shaktikanta Das is announcing the bi-monthly monetary policy (RBI MPC) decisions on Friday. In the midst of rising inflation, there are many challenges before the RBI, including giving further momentum to the economy.

In the MPC meeting of RBI, along with the inflation rate, the economic scenario was also discussed. The central bank has decided to increase the repo rate again. The benchmark interest rate has been increased by 50 bps to 5.40 per cent. The Standing Deposit Facility (SDF) has gone up to 5.15 percent and the MSF rate to 5.65 percent.

On inflation, RBI estimated that it may reach 6.7 percent in the current financial year 2022-23. The consumer price index inflation (CPI) has been estimated at 7.1 percent for July to September.

It can be 6.4 percent in the third quarter and 5.8 percent in the fourth quarter. In the first quarter of the next financial year 2023-24, the inflation rate is expected to be at 5 percent.