The Reserve Bank of India (RBI) on Wednesday raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19.
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The Reserve Bank of India (RBI) on Wednesday raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19.
“On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5 per cent,” the RBI said in the monetary policy review statement.
“Consequently, the reverse repo rate under the LAF stands adjusted to 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.”
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Earlier on Wednesday, the 30-scrip Sensitive Index (Sensex) opened on a positive note during the morning session of the trade.
The Sensex of the BSE after opening at 37,643.87 points touched a high of 37,665.53 points and a low of 37.597.24 points.
On Tuesday the Sensex closed at 37.606.58 points.
The Sensex is trading at 37,679.68 points up by 73.10 points or 0.19 per cent.
On the other hand, the broader 51-scrip Nifty at National Stock Exchange (NSE) opened at 11,359.80 points after closing at 11,356.50 points.
The Nifty is trading at 11,375.35 points in the morning.
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