Increased repo rate by RBI big dampener for auto industry, says FADA ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 13
The hike in key interest rate by RBI is a big dampener for the automobile industry particularly for the price sensitive entry-level two-wheelers and passenger vehicles segments, Federation of Automotive Dealers Associations said on Friday. The Reserve Bank of India (RBI) on Friday raised the key interest rate by 50 basis points, the fourth straight increase since May with more hikes expected to rein in inflation. The Monetary Policy Committee (MPC), comprising three members from the RBI and three external experts, raised the key lending rate or the repo rate to 5.90 per cent - the highest since April 2019. "It is definitely a big dampener for the auto industry especially for both, entry leve

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