The Reserve Bank of India (RBI) in a sudden move on Wednesday raised the policy repo rate by 40 basis points (bps) to 4.4% and the Cash Reserve Ratio (CRR) by 50 basis points to 4.5%. Making an unscheduled announcement, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) of the RBI met in an off-cycle meet and decided to increase the policy rates to curb the rising inflation. Despite the rate increase, the RBI would maintain its ‘accommodative’ stance, even as the fundamentals of the Indian economy remained strong, he stated.In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
Business Tit-Bits: The Party Is Over
The Reserve Bank of India (RBI) in a sudden move on Wednesday raised the policy repo rate by 40 basis points (bps) to 4.4% and the Cash Reserve Ratio (CRR) by 50 basis points to 4.5%. Making an unscheduled announcement, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) of the RBI met in an off-cycle meet and decided to increase the policy rates to curb the rising inflation. Despite the rate increase, the RBI would maintain its ‘accommodative’ stance, even as the fundamentals of the Indian economy remained strong, he stated.In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.