Top News Of The Day: RBI Hikes Key Lending Rate, Loans Set To Get Costlier

Reserve Bank of India (RBI) on Wednesday raised the key policy rate by 50 basis points (bps) to 4.90 per cent in its June bi-monthly meeting. The central bank is likely to concentrate interest rate hikes over the coming months in a relatively short tightening cycle. A 16-year-old boy allegedly shot his mother after she stopped him from playing a mobile phone game and hid her body for two days at their home in Uttar Pradesh's Lucknow. With a fierce battle underway in Ukraine's eastern Donbas, latest satellite images show the extent of destruction caused by continuous and relentless Russian artillery. The Kremlin has been focusing its attacks and operations on Severodonetsk, the largest city still under Ukraine's control in Donbas's Luhansk region.