RBI policy rate hike: RBI’s decision to hike policy rate to help economy in medium term, says Assocham

[ad_1] industry body Assocham said on thursday Reserve BankThe decision to increase the benchmark lending rate by 50 basis points to 4.9 per cent will help the Indian economy in the medium term. The central bank on Wednesday hiked the repo rate for the second time in five weeks. Earlier, it had increased the short-term lending rate by 40 basis points (bps) on May 4. Assocham President Sumant Sinha said through a clearly coordinated approach between the two countries reserve Bank of India And Finance MinistryThe Indian government and monetary…