Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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The RBI on Wednesday cited inflation concerns as it raised interest rates for the second time in as many months by 25 basis points, setting its benchmark repo rate at 6.5%.
“Uncertainty around domestic inflation needs to be carefully monitored in the coming months,” the central bank said in its policy statement.
The RBI retained its forecast for economic growth in the current fiscal year at 7.4% and projected that the pace of expansion would quicken to 7.5% in the first quarter of FY20.
