Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced an increase in the policy rate by 50 basis points to 5.4 per cent.
Announcing the decision of the Monetary Policy Committee (MPC) during the three-day meeting, Das said it has been decided to increase the policy rate by 50 bps to 5.4 per cent with immediate effect.
He also said that the domestic economy is showing signs of broadening.
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