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RBI Monetary Policy 2023
February 11 , 2023
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- The Monetary Policy Committee (MPC) of the Reserve Bank of India on hiked the key policy rate, the Repo rate.
- This is the rate at which the RBI lends funds to banks.
- It is hiked by 25 basis points to 6.50 per cent in a bid to rein in retail inflation.
- A basis point is one-hundredth of one percentage point.
- The RBI has also projected a GDP growth for the next fiscal at 6.4 per cent.
- Retail inflation is expected to be 5.3 per cent in FY24.
- Due to this EMIs on vehicles, home and personal loans will rise.
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