The RBI on Wednesday after an unscheduled MPC meeting hiked the benchmark lending rate by 40 basis points (bps) to 4.40 per cent to contain inflation that has remained stubbornly above the target of 6 per cent for the last three months.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-taking-inflation-inflationary-expectations-seriously-uday-kotak/articleshow/91321366.cms
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