September 20, 2013 1:18 PM
RBI hikes repo rate by 25 basis points in mid-quarter review
Reserve Bank of India Governor Raghuram Rajan today hiked the key repo rate by 0.25 per cent to 7.5 per cent. The repo rate is the rate at which banks borrow short term money from the RBI. The Central bank's move to hike rates is aimed at reining in the rising inflation.In its mid-quarter revie...