March 19, 2010 07:44 pm | Updated 07:44 pm IST - Mumbai
The Reserve Bank of India on Friday hiked its key short-term lending and borrowing rates to banks by 25 basis points to combat rising inflation, a move that could signal hardening of commercial lending rates.
The move to hike repo and reverse repo rates to 5 per cent and 3.5 per cent respectively come barely a month before the RBI was to announce monetary policy for the year 2010-11.
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