CURRENT AFFAIRS: BANKING & FINANCE
RBI hikes repo rate to 6.5% & projects GDP growth at 6.4% for 2023-24
- The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points (bps) to 6.5% for FY 2022-23, and 5.3% for the next fiscal.
- Similarly, the standing deposit facility (SDF) rate was adjusted to 6.25% from 6%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75%.
- For the next fiscal, the RBI projected a growth rate of 6.4%.
