RBI increase Repo Rate by a half percent to 5.9 percent

  • On 30 September 2022, Monetary Policy Committee of Reserve Bank of India decided to increase Repo Rate by a half percent to 5.9 percent, with immediate effect.
  • The RBI has raised the repo rate by 1.9 percent since May 2022.
  • Governor Shaktikanta Das said, the MPC decided by a majority of five members out of six to increase the policy repo rate.
  • The standing deposit facility (SDF) rate stands adjusted to 5.65 percent;
  • The marginal standing facility (MSF) rate, and the Bank Rate to 6.15 percent.
  • RBI has projected real GDP growth for 2022-23 at 7.0 percent. Earlier RBI projected GDP growth for 2022-23 at 7.2 percent.