RBI Hikes Interest Rates By 50 Bps

Shaktikanta Das, Governor, RBI delivers the decision of the Monetary Policy Committee's decision on interest rates. The RBI hikes rates by 50 basis points. The apex bank has so far raised the repo rate by 140 basis points since embarking on a tightening cycle at an unscheduled policy meeting in May this year. The MPC’s rate hike is intended at curbing demand, and, thereby, control high inflation.