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RBI Raises Rates by 50bps – Aiming to Keep Inflation Within Target Limit

Reserve Bank of India (RBI) increased the repo rate by 50 basis points to 5.4%. prolonged high inflation could harm growth in the medium term Real GDP growth projection for 2022-23 is maintained at 7.2% RBI is also focusing on the development of the Bharat Bill Payment System (BBPS) platform.

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