On expected lines the Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) increased the policy repo rate by 25 basis points in its February meeting to 6.50%. Cumulatively, MPC increased the policy repo rate by 250bps till now from May 2022 with an off-cycle rate hike of 40 basis points. The MPC retained its earlier stance to remain focused on withdrawal of accommodation.
February 8, 2023