The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has unanimously decided to hike the repo rate by 50 basis points (bps) to 4.9 percent as inflation is likely to be above 6 percent till December 2022 given global growth risks and geopolitical tensions. The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target range while supporting growth. Click here