The Reserve Bank of India increased its repo rate by 50 basis points to 7.25% from 6.75% and raised the reverse repo rate to 6.25% by the same margin. The Bank also held the cash reserve ratio at 6.00%, and the Bank Rate at 6.00%, while increasing the savings bank deposit interest rate to 4.00% from 3.50%. India's key inflation measure, the wholesale price index, increase 8.98% year on year in March, exceeding the Bank's estimate of 8%.
www.CentralBankNews.info
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