Repo Rate hikes by 0.40% – RBI Takes Decisive Action
In a bold move, the Reserve Bank of India (RBI) raised the repo rate by 40 basis points to 4.40 percent on Wednesday, marking the third consecutive increase in as many months. The repo rate serves as the benchmark for short-term funds lent by the RBI to banks.
Wholesale Inflation Rate in India Falls After Three Years
Wholesale Inflation Rate in India-India’s wholesale inflation rate experienced a significant decline, falling to 10.49% in April compared to 15.08% in March. This noteworthy drop marks the first time wholesale inflation has fallen below 11% since September 2021. The decline can be attributed to the decrease in prices of essential commodities like food items, fuel, and manufactured goods.