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RBI hikes repo rate to 8% – to contain rising inflation

RBI unexpectedly raised interest rates for the first time in 15 months.

As part of its on-going effort to contain rising inflation, The Reserve Bank of India has decided to increase the repo rate by 25 basis points to 8.00 percent from 7.75 percent with immediate effect.

The repo rate is the rate at which RBI lends money to banks under its liquidity adjustment facility.

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