New Delhi: The Reserve Bank of India (RBI) Governor Shaktikanta Das, on Wednesday, hiked the benchmark interest rate by 40 bps to 4.40 pc in an unscheduled policy review with a view to containing inflation, adding that shortages, volatility in commodities and financial markets are becoming more acute. Geopolitical tension is pushing inflation, the RBI Governor further said.
"Monetary Policy Committee votes unanimously to increase policy repo rates by 40 bps with immediate effect. The sharp acceleration in headline CPI inflation in March 2022 to 7% was propelled in particular by food inflation," Das said.
