CURRENT AFFAIRS

Detailed explanation-1: -In the current fiscal year, the RBI has increased the Repo Rate four times. The central bank had also raised the Repo Rate to 5.4% earlier on August 05, 2022. The Reverse Repo Rate remains at 3.35% after the announcement, while according to the recent RBI Repo Rate news, the new repo rate is now 6.25%.

Detailed explanation-2: -On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 7, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 35 basis points to 6.25 per cent with immediate effect.

Detailed explanation-3: -The key repo rate has been hiked on 7 December 2022 by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) by 35 basis point to 6.25%. The policy repo rate was increased from 4.00% to 4.40%, by 40 basis points (bps), on 4 May 2022, and then from 4.40% to 4.90% on 8 June 2022, by 50 basis points.

Detailed explanation-4: -Year-Ender 2022: RBI’s repo rate hike impact on your money, banks, economy. RBI Repo Rate Hike: The Reserve Bank of India (RBI) recently hiked the repo rate by 35 bps, the fifth such increase in 2022.