Current RBI Bank Interest Rates 2022
Current RBI Bank Interest Rates 2022 RBI Interest Rate Reserve Bank of India (RBI), the central banking institution of India controls the monetary policy of the Indian currency. The policy repo rate was increased from 4.00% to 4.40%, an increase of 40 basis points (bps), on 4 May 2022,and then from 4.40% to 4.90% on 8 June 2022, an increase of 50 basis points. The rate was again increased on 8 August from 4.90% to 5.40%, an increase of 50 basis points. The last time the repo rate was increased was on 1 August 2018. However, the reverse repo rate remains the same at 3.35%. Some of the major functions of RBI include supervising banks and financial institutions, managing exchange rates, act as banker’s bank, control inflation, maintain deflation level and detect fake currency. From time to time, RBI controls liquidity and money supply in the market and thereby, ensures overall economic growth. https://www.bankbazaar.com/finance-tools/emi-calculator/current-rbi-bank-interest-rates.ht...
