The correct answer is 4. 90%. The Reserve Bank of India has increased the repo rate by 50 basis points to 4. 90%. The current repo rate is 4. 40% after the rates were increased by 40 basis points at an off-cycle meeting of the Monetary Policy Committee. The central bank forecasts 6. 7% inflation, while the real GDP growth rate is pegged at 7. 2%. The RBI also revised the inflation projection for FY23 to 6. 7% from 5. 7%. Important PointsInflation projection for April-June has been revised to 7. 5 percent from 6. 3 percent, for July-September it has been revised to 7. 4 percent from 5. 8 percent. Inflation projection for October-December has been revised to 6. 2 percent from 5. 4 percent, while for January-March 2023 it has been updated to 5. 8 percent from 5. 1 percent.