scorecardresearchRBI hiked your loan interest rates to prevent inflation from corroding economic recovery, MPC minutes reveal

RBI hiked your loan interest rates to prevent inflation from corroding economic recovery, MPC minutes reveal

Updated: 23 Jun 2022, 08:08 AM IST
TL;DR.
In the Monetary Policy Committee (MPC) meeting held during June 6-8, RBI Deputy Governor Michael Debabrata Patra, noted, If this inflation is allowed to go out of hand, it could corrode the foundations of the recovery that is gradually gaining traction - empirical evidence shows that inflation above 6 per cent in India is unambiguously harmful for growth.
FILE PHOTO: A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain

FILE PHOTO: A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain