RBI hikes repo rate by 25 bps to 6.50% in the sixth hike in a row

The Reserve Bank of India's Governor Shaktikanta Das on Wednesday announced the monetary policy committee's decision to increase the repo rate, the rate at which RBI lends money to banks, by 25 bps to 6.50%. It's the sixth consecutive time the rate has increased since May 2022. In December 2022, the repo rate was hiked by 35 bps to 6.25%.