The Reserve Bank of India (RBI) on Tuesday hiked its indicative short term policy rates by 25 basis points to tame inflation and inflationary pressure.
The central bank raised the repo rate — the rate at which banks borrow money from the central bank — by 25 basis points from 6.25 per cent to 6.5 per cent and the reverse repo rate — the rate at which banks park their funds with the RBI — from 5.25 per cent to 5.5 per cent.
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