RBI’s Monetary Policy Update: Increase in Repo Rate by 25 Basis Points, and Revised GDP Forecast at 7%.

On the 8th of February, 2023, the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, made a public announcement regarding a hike in the repo rate by 25 basis points.

The Monetary Policy Committee (MPC) of the RBI was divided in their decision with a 4 to 2 vote.

Governor Das indicated that despite the unstable global developments, the Indian economy has demonstrated a high degree of resilience.