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Moody's said that although potential growth has come down in the past 7-10 years, the Indian economy is likely to continue to grow rapidly by international standards.
The External Benchmark Rate - Repo linked (EBR-R) of the bank would be revised from 9.60 per cent to 9.75 per cent, it said. The Monetary Policy Committee (MPC) has decided to keep the policy repo rate unchanged at 6.50 per cent with preparedness to act, should the situation so warrant, Reserve Bank of India Governor Shaktikanta Das said earlier in the day.
The Karur Vysya Bank Ltd has revised the External Benchmark Rate - Repo Linked of the Bank from 9.35% to 9.60% with effect from 10.02.2023.
EBLR stands for the minimum lending rate below which a bank can't offer loans. ICICI Bank has increased the rates.
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