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INSTANT VIEW - RBI raises rates more than expected
Expert View - RBI raises rates more than expected
The Reserve Bank of India (RBI) raised interest rates more forcefully than expected on Tuesday in the face of inflation that has held stubbornly above 10 percent for the past five months. The RBI lifted the repo rate, at which it lends to banks, by 25 basis points to 5.75 percent, in line with expectations, but raised the reverse repo rate, at which it absorbs excess cash from the system, by 50