SignIn
Kerala Kaumudi Online
Thursday, 11 August 2022 2.24 PM IST

Multiple setbacks for common man; Repo rate hiked again, third hike in three months

shaktikanta-das

MUMBAI: The Reserve Bank of India (RBI) has hiked the repo rate for the third time in a row. The repo rate has been increased by 50 basis points to 5.40 per cent with immediate effect. The third rate hike by the central bank aims to curb inflation.

The Indian economy has been grappling with high inflation, said RBI Governor Shaktikanta Das. Earlier, the Monetary Policy Committee (MPC) had raised the repo rate by 0.9 per cent. There has been a rise of 1.40 per cent within three months.

Repo rate is the interest charged by the RBI when commercial banks borrow from them by selling their securities to the central bank. It is used by the monetary authorities to control the inflation rates in the country.

JOIN THE DISCUSSION
TAGS: SHAKTIKANTA DAS, RBI, HIKE, REPO RATE, AGAIN, THIRD, TIME, THREE, MONTHS
KERALA KAUMUDI EPAPER
TRENDING IN INDIA
TRENDING IN INDIA
X
Lorem ipsum dolor sit amet
consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
We respect your privacy. Your information is safe and will never be shared.