Just in: RBI hikes repo and reverse repo rates by 25 bps

With the domestic inflation persisting at uncomfortable levels, Reserve Bank of India (RBI) has furthered its aggressive stance against the rampant inflation and hiked repo rate and reverse repo rate by 25 basis points each to 7.50% and 6.50% respectively, in its mid-quarter policy review, which is in line with broader market expectations.

While, the central bank has left cash reserve ratio, which is the amount of funds that banks have to keep with RBI, unchanged at 6%.