New Delhi, Oct. 7 -- The Reserve Bank of India's Monetary Policy Committee (MPC) meeting -- led by Governor Sanjay Malhotra -- on Wednesday announced to raise key policy rate by 25 basis-points (bps), taking it to 5.50 amid a challenging global environment.
SDF rate stands adjusted at 5.25 per cent, and the marginal standing facility range and the bank rate to 5.75 per cent, said the RBI.
After the three-day brainstorming, Malhotra said that global inflation is projected to increase sharply, prompting monetary policy tightening by the major central banks across the world.
The Central Bank had kept the repo rate unchanged at 5.25 per cent for quite some time. The rate hike comes amid challenging factors, including rising inflation and cru...