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DN Bureau

Business: RBI hikes repo rate by 50 bps to 4.90 per cent

RBI Shaktikanta Das Dynamite News MPC

RBI Governor Shaktikanta Das

Mumbai: As widely expected, the Reserve Bank of India (RBI) on Wednesday hiked policy repo rate by 50 basis points (bps) to 4.90 per cent with immediate effect.

Repo rate is the rate at which the banks borrow from the RBI. Higher repo rate would make loans expensive for borrowers, adding to their EMI burdens.

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