Reserve Bank of India hikes repo rate as battle on inflation continues in full swing. In line with market expectations, the central bank announced a 50 basis points hike in the repo rate stepping up its fight against persistently high inflation. Repo is the rate at which the RBI lends short-term funds to banks. With the latest rate hike, the repo rate now stands at 5.9%. This increase will also lead to higher interest rates on your loans. Watch this report for more.
