RBI hikes repo rate by 25 bps amid re-escalation of West Asia crisis, high financial mkt volatility

The Reserve Bank of India’s Monetary Policy Committee, chaired by Governor Sanjay Malhotra, on Wednesday raised the policy repo rate by 25 basis points to 5.50 per cent, marking the first increase in the benchmark rate since February 2023. The six member MPC held its October meeting from October 5 to 7, with Malhotra announcing the policy decision on Wednesday, October 7.