Reserve Bank of India’s bi-monthly monetary policy held on Wednesday, the repo rate has been hiked and now stands at 6.50%.

New Delhi, August 01, 2018: Commenting on the development, Miss Rajashree Nambiar, MD & CEO, Fullerton India Credit Company Limited said, “The rate hike was consistent with the medium term inflation mandate and to that extent removes uncertainty from the markets. Having delivered two back-to-back rate hikes, RBI now has the flexibility to pause, be data dependent, review the progress of the monsoon and crude prices. In our view, this outcome combined with MPC’s neutral stance benefits retail borrowers and home buyers as interest rates are likely to remain stable for the foreseeable future.”

Corporate Comm India(CCI Newswire)