Tuesday 26 Mar, 2019

For the first time in four years, the RBI has increased its rates

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NEW DELHI: The Reserve Bank of India, has increased its Reverse Reppo first time in four year.

The repo rate will be 6.25%, while the reverse repo rate will be 6%. The CRR rate will remain at 4 per cent.

The decision was taken after a three-day meeting convened by the six-member committee headed by RBI Governor Urjit Patel.

The RBI estimates that the widening of the crude oil prices will lead to further future inflation.

The consumer price inflation based on the Consumer Price Index stood at 4.58 per cent in April. The possibility of future increased in the future. Inflation was 4.44 per cent in February.

At the meeting, which is not yet able to downgrade inflation by 4 per cent, The rise in crude oil prices will not be possible, "RBI said.

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