RBI hikes repo rate by 25 bps to 6.50%; real GDP growth for 2023-24 projected at 6.4%

01:30:00 PM, Wednesday 8th of February 2023 | in business

RBI Governor Shaktikanta Das announced on Wednesday that RBI has increased the repo rate by 25 basis points to 6.5%. The RBI has raised interest rates for the sixth time in nine months and the highest since August 2018. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the MPC by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.