RBI Announced on Wednesday that the Repo Rate will see an Increase of 25 bps. This takes the interest rate to 6.5%. This is the First time in 2023 that a hike is done. Earlier the Repo Rate was 35bps on December 7. Further RBI Revealed that MPC will concentrate on withdrawing an "accommodative stance" since the "situation does not Look so grim now". This Meeting was finished on February 8.
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