RBI Hikes Repo Rate By 50 Bps To 4.9%, Home Loans To Get Costlier

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By Mohammed Kudrati The Reserve Bank of India [RBI] today hiked the policy repo rate by 50 basis points, from 4.40% to 4.90%. This is the second hike in the policy repo rate in just more than a month, with the previous hike of 40 basis points coming in an unscheduled move in May. With this hike, the repo rate is now up 90 basis points from the 4% mark that it was 36 days ago. RBI also hiked the cash reserve ratio (CRR) in the previous announcement. The repo rate is the rate at which banks borrow from the RBI on a short-term basis. Also Read:RBI Hikes Repo Rate, Cash Reserve Ratio In Unschedule…

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