RBI hikes repo rate by 40 basis points to 4.40 per cent

Reserve Bank of India has hiked the repo rate by 40 basis points, taking it to 4.40 per cent. RBI Governor Shaktikanta Das said Monetary Policy Committee at its meeting decided to increase the policy repo rate under the Liquidity Adjustment Facility by 40 basis points to 4.40 per cent with immediate effect.