The RBI hikes more than expected, raising its benchmark lending rate 50 basis points to 7.25%....

|By:, SA News Editor

The RBI hikes more than expected, raising its benchmark lending rate 50 basis points to 7.25%. Even after a series of increases, real rates remain negative as inflation is running near 9%. Banking shares take a hit. HDB -2.4%, IBN -2.8% in Mumbai.