June 16, 2011 8:42 PM
RBI hikes short-term lending and borrowing rates by 25 basis points
The Reserve Bank of India today raised the repo rate, or the rate at which its lends to banks, and the reverse repo rate, the rate at which it borrows from banks, by 25 basis points, each, to combat inflation. The repo rate has been raised to 7.5 per cent, and the reverse repo rate to 6.5 per cent. ...