Repo rate hike not negative for growth: RBI chief
Reserve Bank governor Raghuram Rajan, in an unexpected move, hiked the key repo rate by 0.25 per cent, causing the markets and the rupee to fall sharply. The repo rate has been increased to 7.5 per cent, while the cash reserve ratio or the amount of money banks have to park with the RBI, has been kept unchanged at 4 per cent.
