Reserve Bank of India hikes repo rate by 25 bps to 7.5%, keeps other rates unchanged

The Reserve Bank of India (RBI) has hiked the repo rate (rate at which RBI lends to the market) by 25 bps to 7.5%, while keeping reverse repo (rate at which RBI borrows from the market), bank rate and Cash Reserve Ratio (CRR) unchanged at 6%, 6% and 5.5%, respectively. The bank has also kept inflation target steady at 5-5.5%.

Read more in the Business Standard article.