LIVE: RBI Monetary Policy Review Outcome – Another rate hike of 50 bps announced! What all MPC recommended – Key things to know

LIVE UPDATES: RBI Monetary Policy Review MPC Meeting: RBI Governor Shaktikanta Das has announced the MPC decision. RBI has hiked the benchmark lending rate by 50 basis points to 5.90 per cent. The Reserve Bank’s rate-setting panel had started its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed. Based on the recommendations of the Monetary Policy Committee (MPC), the RBI had effected 50 basis points increase in repo rate each in June and August after raising the short-term lending rate by 40 basis points in an off-cycle decision in May.