Chennai 5 August : Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced the hike of the policy rate by 50 basis points and to 5.4 percent. The announcement of the decision of the Monetary Policy Committee (MPC) during its three-day meeting Das announced that it was agreed to increase the rate of interest by 50bps and increase it to 5.4 percent with immediate effective.
He added that the economy in the country is showing indications of expanding.
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