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RBI raises repo rate; The repo rate was 4.40%

Reserve Financial institution of India raises repo price by 0.40% With this, the repo price has gone as much as 4.40 per cent. This was introduced by Reserve Financial institution Governor Shaktikanta Das. The RBI’s repo price has remained unchanged since May 2020.

The transfer comes at a unprecedented assembly of the Financial Coverage Committee. The Financial Coverage Committee was convening a unprecedented assembly within the wake of rising inflation. All these current on the assembly voted in favor of elevating the charges. The repo price is the speed at which the central financial institution lends to banks.

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