RBI repo rate hike: How will it affect fixed deposits (FDs)?

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RBI repo rate hike: There will be a direct impact on both bank depositors and new loan borrowers.

The money laundering case stems from separate FIRs filed by the Punjab Police under various sections of the NDPS Act against Gurdeep Singh Rano and Rajesh Kumar.Four out of six members of Monetary Policy Committee (MPC) have decided to go ahead with this hike in the repo rate, RBI Governor Shaktikanta Das said. RBI started its three-day meeting on February 6 amid the rate hiking spree that began in May last year with the aim to keep inflation in check.The Indian banking sector, including NBFCs (non-banking financial corporations), ‘continues to be resilient (and) strong’, Reserve Bank of India governor Shaktikanta Das said Wednesday morning, in an apparent reference to concerns over lenders’ exposure to the embattled Adani Group.