RBI takes repo rate hike route | Will it reach desired destination?

The Reserve Bank of India (RBI) has hiked the key interest rate by 50 basis points, the second increase in five weeks, to tame inflation. The increase in lending rate or the repurchase rate (repo) by 50 bps to 4.90 per cent was the biggest in more than a decade and came on the back of a 40 bps hike in May at an…