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The policy repo rate was increased by the Reserve Bank of India (RBI) on Wednesday, by 35 basis points, to 6.25%.
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This is the sixth consecutive increase inrepo rates. The benchmark interest rate has been increased by a total of 190 basis points
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Since June, it has been raised 3 times by 50 bps, and once, at an off-cycle meeting in May, it has been raised by 40 basis points
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Governor Shaktikanta Das said that the real GDP prediction for the fiscal year 2023 had been reduced to 6.8%.
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The Reserve Bank of India (RBI) has kept its projection for inflation based on the consumer price index (CPI) for FY23 at 6.7%
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The Governer, ShaktikantDas, also said that he expects inflation to reduce when the winter crop is collected
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The Governor of (RBI) praised the growth of the Indian economy in the face of global challenges such as Ukraine conflict & the Pandemic