RBI hikes key rates by 50 bps

Trying to rein in growing inflation, the Reserve Bank of India today raised key short term lending rates by 50 basis points. While addressing media persons at Mumbai today, RBI governor D. Subbarao announced the first monetary policy review of 2012. He informed that Repo rate will be up to 7.25% and the Reverse Repo to 6.25%, while Cash Reserve ratio remains unchanged.