Begin typing your search above and press return to search.
Amid Growing Inflation Rate, RBI Pushes Policy Rates up!
By: Tupaki Desk | 4 May 2022 1:55 PM GMT
For the past two years, the inflation rate in India has been going up constantly. As of March this year, the inflation rate was recorded at 6.95%. With the inflation rate not showing any intention of coming down, the regulatory body in India Reserve Bank of India had stepped in to sort out the issues.
As a big boost to the economy and the people, the Reserve Bank of India (RBI) in its recent meeting announced that the policy repo rate and the Cash Reserve Ratio (CRR) have been increased to 4.40 percent and 4.50 percent respectively. The points were pushed to 40 and 50 basis points each.
Saying that the inflation rates are going up steadily, the RBI said that the rates have been increased. The inflation rates started going up since the emergence of Covid. As a precautionary measure, the rates were increased.
"Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 percent and the marginal standing facility (MSF) rate and the Bank Rate to 4.65 percent," the RBI said announcing the new rates.
Expressing its concern over the inflation rate and the impact the economy faced due to the Covid over the past two years, the RBI said that the new decision would help in dealing with the soaring inflation rate.
As a big boost to the economy and the people, the Reserve Bank of India (RBI) in its recent meeting announced that the policy repo rate and the Cash Reserve Ratio (CRR) have been increased to 4.40 percent and 4.50 percent respectively. The points were pushed to 40 and 50 basis points each.
Saying that the inflation rates are going up steadily, the RBI said that the rates have been increased. The inflation rates started going up since the emergence of Covid. As a precautionary measure, the rates were increased.
"Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 percent and the marginal standing facility (MSF) rate and the Bank Rate to 4.65 percent," the RBI said announcing the new rates.
Expressing its concern over the inflation rate and the impact the economy faced due to the Covid over the past two years, the RBI said that the new decision would help in dealing with the soaring inflation rate.
