The RBI on Friday raised the benchmark lending rate by 50 basis points to 5.90 per cent in a bid to check inflation, which has remained above its tolerance level for the past 8 months. In all, RBI has raised the benchmark rate by 1.90 per cent since May this year.
Elsewhere in Asia, markets in Seoul, Tokyo and Shanghai ended lower, while Hong Kong settled higher. Stock exchanges in Europe were trading in the green in mid-session deals.
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