Explorer

RBI hikes repo rate by 25 basis points; reverse repo revised to 6 %

New Delhi [India], June 6 (ANI): The Reserve Bank of India (RBI) on Wednesday hiked the repo rate and reverse repo rate at 6.25 percent and 6 percent respectively.

Maintaining a neutral stance, the central bank's six-member Monetary Policy Committee (MPC), in its Monetary Policy Statement reiterated its commitment to achieving the medium-term target for headline inflation of 4 percent on a durable basis.

"GDP growth is projected in the range of 7.5-7.6 percent in H1 and 7.3-7.4 percent in H2, with risks evenly balanced," stated the Monetary Policy statement.

Following this, the MPC maintained neutral stance in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent, while supporting growth.

MPC added that the crude oil prices have been volatile recently and this imparts considerable uncertainty to the inflation outlook, both on the upside and the downside.

Meanwhile, the committee said adherence to budgetary targets by the Centre and States appears to ease upside risks to the inflation outlook considerably. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Ajit Pawar Slams Yogi's 'Batenge To Katenge' Call, Says 'This Is Not UP'
'This Is Not UP': Maharashtra Deputy CM & BJP Ally Ajit Pawar Slams Yogi's 'Batenge To Katenge' Call
Devendra Fadnavis Replies To Kanhaiya Kumar's 'Reels' Jibe At Amruta, Says 'I Have Sympathy Of...'
Devendra Fadnavis Replies To Kanhaiya Kumar's 'Reels' Jibe At Amruta, Says 'I Have Sympathy Of...'
Mike Tyson Slaps Jake Paul For THIS Reason During Official Weigh-In; Video Goes Viral | WATCH
Mike Tyson Slaps Jake Paul For THIS Reason During Official Weigh-In; Video Goes Viral | WATCH
Congress Promises LPG Dole To 'Infiltrators' In Jharkhand, JMM Clarifies After BJP Lashes Out
Congress Promises LPG Dole To 'Infiltrators' In Jharkhand, JMM Clarifies After BJP Lashes Out
Advertisement
ABP Premium

Videos

Rajasthan Administrative Officers' Union Meets CM Bhajanlal Sharma Ahead Of Tonk By-Election ClashUPPSC Protest Sparks Student Uprising in Prayagraj as RSS-BJP Hold Crucial Meeting Ahead of UP By-ElectionsUPPSC Protest Escalates in Prayagraj, Students Demand Single-Shift Exam Schedule | ABP NewsBJPs Furious Over Ghulam Ahmad Mir's Remarks Says, 'Congress Wants to Create a Separate Nation'

Photo Gallery

Embed widget