the Reserve Bank of India rised its key policy rates by 50 basis_points

In a shocker proceed, the Reserve Bank of India rised its key policy rates by 50 basis_points nowadays in its 1st quarter review of its fiscal policy.

Consequently, the_repo rate is currently at 8 percent even though the reverse repo_rate is at 7 percent. The marginal_standing area (that is at 100 bps higher than the repo rate) will be at 9%. The rate increases are the 11th consecutive increase since_March 2010.

The market had anticipated a 25 bps increase in this quarter on account of inflationary conditions. Nevertheless, bankers had appealed to the RBI a week ago to keep its hiking cycle due to a slight slack in credit development and lower industrial_output in May. The RBI did not oblige.

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