RBI hikes short-term lending, borrowing rates by 25 basis points
November 2nd, 2010 - 8:18 pm ICT by ANINew Delhi, Nov 2 (ANI): The Reserve Bank of India (RBI) on Tuesday hiked its key short-term lending and borrowing rates by 25 basis points each with immediate effect to rein in inflation.
The short-term lending rate or repo-rate stands at 6.25 percent and the borrowing rate (reverse repo) at 5.25 percent.
The RBI has, however, left the Cash Reserve Ratio or the bank rate, which is the amount of cash that banks have to keep with the central bank to maintain prudential norms, unchanged at six percent.
“These changes will be with immediate effect,” the Reserve Bank said today, while announcing the second quarter monetary policy review in Mumbai.
The RBI after announcing the latest round of rate hikes, which is the sixth since February 2010 said further rate action is relatively low in the immediate term, indicating that its consistent efforts at combating inflation has begun to bear fruits, even though this is still at a higher level.
The apex bank has so far hiked the repo rate by 125 basis points. (ANI)
- Inflation will come down by December end: Montek Singh Ahluwalia - Nov 02, 2010
- RBI hikes key rates by 0.25 percent to curb inflation - Jan 25, 2011
- India's Reserve Bank hikes key rates to tame inflation (Lead) - Jan 25, 2011
- RBI hikes key interest rates by 25 basis points - Nov 02, 2010
- Inflation forces another rate hike by India's central bank (Second Lead) - May 03, 2011
- India's central bank hikes rates again to tame inflation - May 03, 2011
- Inflation forces India's central bank to hike rates again (Roundup) - May 03, 2011
- Duel with inflation continues, RBI hikes rate again - Jun 16, 2011
- Inflation forces another rate hike by India's central bank (Lead) - May 03, 2011
- PNB, Allahabad Bank hike lending, deposit rates - Jul 29, 2011
- India's central bank hikes rates again to fix inflation (Lead) - Nov 02, 2010
- Soaring prices prompt India's central bank to hike key rates (Roundup) - Jan 25, 2011
- Indian central bank hikes policy rates again to curb inflation - Mar 17, 2011
- Reserve Bank of India keeps rates unchanged - Mar 15, 2012
- RBI rate hike may impact growth in short-run: Mukherjee - Nov 02, 2010
Tags: apex, apex bank, bank of india, banks, basis points, cash reserve ratio, consistent efforts, fruits, inflation, monetary policy, New Delhi, nov 2, prudential, prudential norms, rate hikes, reserve bank of india, reverse repo