KATHMANDU: Reserve Bank of India (RBI) on Thursday raised key interest rate by 40 basis points to 4.40 per cent with immediate effect.
The decision was taken by the monetary policy committee of the central bank in its off-cycle meeting held between May 2-4, RBI Governor Shaktikanta Das said.
He said the decision was taken in view of the rising inflation, geo-political tensions, high crude oil prices and shortage of commodities globally, which have impacted Indian economy.