Rate hike: RBI more hawkish than external members at meet

RBI’s MPC voted unanimously to raise the repo rate by 25 basis points to 5.5%, but split 4-2 on shifting to calibrated tightening, signalling rate cuts were off the table in the near term as inflation threatens to spread beyond food and fuel.

Governor Sanjay Malhotra, deputy governor Poonam Gupta, executive director Indranil Bhattacharyya and external member Saugata Bhattacharya backed the shift.

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Key focus areas include regulatory direction, banking operations, credit conditions, customer service, compliance readiness, and market developments connected with "Rate hike: RBI more hawkish than external members at meet".

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The council news desk recommends reviewing related circulars, service rules, and grievance channels where the development has service or welfare implications for SC, ST, and OBC employees.

Source attribution: Times of India – Business.

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