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