The Reserve Bank of India has raised its repo rate of the policy in 50 basis point increments to 5.4 percent, Governor

Shaktikanta Das said. The repo rate has now risen back to pre-pandemic levels and is the highest rate since 2019

In simpler terms, repo rate is the rate of interest paid to the Reserve Bank of India when commercial banks take loans

from them through the sale of its securities back to the central bank. Since May the central bank has increased

Real GDP growth forecast for 2022-23 is set at 7.2 percent, with Q1 averaging 16.2 percent," the governor announced.

It's the third repo rate rise within a span of months by India's central bank. "Indian economy has been grappling with

Das However, he added that the financial sector of the country is well-capitalised, and that the country's reserves

of forex provide insurance against global spillovers'. "IMF has revised downwards economic growth projection

It was reported that the RBI governor also noted that prices for oil in the food industry are likely to continue to fall.

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