India’s central bank raises repo rate by 40 bps to 4.40%

With immediate effect, the Reserve Bank of India (RBI), the country’s central bank, has increased the policy repo rate under liquidity adjustment facility (LAF) by 40 basis points (bps) to 4.40 per cent. Consequently, standing deposit facility (SDF) rate now stands at 4.15 per cent and marginal standing facility (MSF) rate and Bank Rate at 4.65 per cent.