1 min read.Updated: 04 May 2022, 03:04 PM ISTLivemint
The MPC raised the repo rate by 40 basis points (bps) to 4.40%, RBI Governor Shaktikanta Das said
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In a surprise move, the Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday announced that the MPC voted unanimously to increase the policy repo rate by 40 basis points (bps) to 4.40% with immediate effect, citing persistent inflationary pressures in the economy. This is RBI's first increase in borrowing rates since August 2018.