Repo rate is hiked by 50 basis points to 5.9%

For the fourth consecutive month, the Reserve Bank of India increased the repo rate by 50 basis points. The primary lending rate in India, known as the repo rate, is 5.90 percent. Over the past few months, the rate has increased by 190 bps. In order to stop the surging inflation that had been above the permitted 6 percent ceiling, the apex bank began to raise the rate in April when it was at 4 percent.

Statement by Shri Shaktikanta Das, RBI Governor - September 30, 2022 https://t.co/IfwcBLQOXD

— ReserveBankOfIndia (@RBI) September 30, 2022

Rection of common people 

Planning to take home Loan but #RepoRate increased by 5.9% Me to Branch Manager😅😅#rbipolicy #RBI pic.twitter.com/5hzmKHJjz4

— lydiaapynz (@ludiaapynz) September 30, 2022