The Reserve Bank of India raises interest rates by 35 basis points to 6.25%.
The RBI is focused on an accommodative stance stated RBI Governor, Shaktikanta Das.
The Reserve Bank’s rate-setting panel increased the lending rate by 35 basis points as the economy started to slow and inflation began to show indications of easing.
In addition to an off-cycle 40 bps increase in the repo in May, the RBI has increased the key benchmark lending rate by 50 basis points (bps) three times since June.