RBI increases policy repo rate by 50 bps to 4.90%

The Monetary Policy Committee of the Reserve Bank of India increased the policy repo rate by 50 bps to 4.90 per cent, informed RBI Governor Shaktikanta Das on June 8.

“The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent,” informed RBI Governor Shaktikanta Das.

“Consequently, the standing deposit facility - the SDF rate - stands adjusted to 4.65 per cent and the marginal standing facility - MSF rate and bank rate - to 5.15 per cent,” he added.