RBI Hikes Key Lending Rate By 50 Basis Points To 4.90%: Highlights

Reserve Bank of India (RBI) on Wednesday raised the key policy (repo) rate by 50 basis points (bps) to 4.90 per cent in its June bi-monthly meeting. The central bank is likely to concentrate interest rate hikes over the coming months in a relatively short tightening cycle. In a recent interview, RBI Governor Shaktikanta Das said that the expectation of rate hikes in June is a "no-brainer".

Here are the highlights from RBI policy meet: