RBI hikes the Repo rate by 50 bps: Loan EMIs to go up: The Reserve Bank of India (RBI) hiked the repo rate by 50 basic points and this is the second increase in the last five weeks. The decision was taken at the conclusion of the Monetary Policy Committee Meeting for three days on June 8th.
The Governor said that inflation trajectory is dependent on the evolving geopolitical situation and that global commodity prices are driving the food prices trend in India.