The Reserve Bank of India raises its benchmark repo rate by 50 basis points on Friday, the fourth straight increase, as policymakers extend their battle to tame stubbornly high inflation and analysts say further tightening is on the cards.
The monetary policy committee (MPC), comprising three members from the RBI and three external members, raised the key lending rate or the repo rate to 5.90 percent with five out of the six voting in favour of the rise.
