The Reserve Bank of India has raised the benchmark repo rate by 25 basis points to 5.50%, triggering a fresh political confrontation between the Congress and the Modi government. The October 7 decision marks the RBI’s first repo rate hike since February 2023 and comes amid rising inflation risks, higher crude oil prices and changing global financial conditions. The Monetary Policy Committee also shifted its policy stance from “neutral” to “calibrated tightening.” n18oc_breaking-newsn18oc_india News18 Mobile App - https://onelink.to/desc-youtube