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Question
Between May 2022 and January, Repo Rate was hiked six times by RBI. What was the primary reason for such a policy?
Options
Controlling inflation
Promoting economic growth
Reducing unemployment
None of these
MCQ
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Solution
Controlling inflation
Explanation:
The RBI raised the repo rate to make borrowing more expensive, helping to reduce credit, spending and inflationary pressure. The other options are not the primary reason for these rate hikes.
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