RBI Repo Rate: Another big blow to the pocket of the common middle class. Reserve Bank of India hiked repo rate once again. The Reserve Bank of India has increased the repo rate for the first time this year. RBI Governor Shaktikanta Das on Wednesday announced a 25 basis point repo rate hike. RBI’s Monetary Policy Committee meeting was held from Monday. Reserve Bank of India Governor Shaktikanta Das announced the interest rate hike on the last day of the meeting. As a result RBI’s repo rate increased to 6.50 percent.
There were earlier fears of a 25 basis point rate hike. The RBI Governor made the announcement on this day, confirming the fears of the experts. He said that out of the 6-member team, 4 people agreed to increase the interest rate.
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