In a surprise and unscheduled move, the #ReserveBankOfIndia (RBI) announced a hike in #RepoRate. The central bank raised the repo rate by 40 basis points (bps) to 4.40 per cent. The #RBI also hiked the cash reserve ratio (#CRR) by 50 basis points to 4.5% effective May 21.
The decision was taken to contain #Inflation that has remained stubbornly above the target of 6 per cent for the last three months. However, the RBI's move will have an impact on those who have borrowed #HomeLoans and #AutoLoans.
#RepoRateHike