RBI Hikes Repo Rate to 5.50%; Delists Paytm Payments Bank

8 Oct 2026, 7:30 am · 15h ago · 1 min read · YourStory

The Reserve Bank of India raised its repo rate by 25 basis points to 5.50% under Governor Sanjay Malhotra, marking the first hike in nearly four years amid persistent inflation. In policy remarks, Malhotra supported charging a 0.4% Merchant Discount Rate on Unified Payments Interface transactions over ₹2,000. Additionally, the central bank officially removed Paytm Payments Bank from the list of recognized scheduled banks following the cancellation of its banking license. Elsewhere, Google Cloud India Managing Director Sashikumar Sreedharan stepped down, while debt marketplace Recur Club unveiled a ₹500 crore fund for D2C brands.