AlQa'dah 14, 1434, September 20, 2013, SPA -- India's new central bank chief raised key interest rates Friday in an effort to control rising inflation. In his first monetary policy review, the new governor of the Reserve Bank of India (RBI), Raghuram Rajan, increased the repurchase or repo rate, charged by the federal bank on loans to commercial banks, by 25 basis points to 7.50 per cent. The reverse repo, or the rate at which the central bank borrows from commercial banks, was also hiked from 6.25 to 6.5 per cent. Economists had widely expected Rajan, who took charge as RBI governor earlier this month, to keep rates unchanged. -- SPA 11:07 LOCAL TIME 08:07 GMT تغريد
