RBI hikes repo rate for the first time in 4 years

RBI Governor Sanjay Malhotra announced Monetary Policy Committee's (MPC) decision to hike repo rate for the first time in nearly four years. The rate rose by 0.25% to 5.50%, following decisions by other Asian central banks that have already begun tightening their monetary policy. MPC hiked standing deposit facility rate to 5.25% and marginal standing facility rate to 5.75%.