NEW DELHI -- The Reserve Bank of India on Wednesday raised its benchmark repo rate by 50 basis points to 4.90%, the second hike in just over a month, as the central bank attempts to rein in soaring prices.
Summing up the RBI's three-day meeting, Gov. Shaktikanta Das said the bank's monetary policy committee voted unanimously to increase the rate "based on an assessment of the macroeconomic situation and the outlook."
