The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday hiked its key lending rate, repo rate, by 25 basis points (bps) to 6.50 per cent. RBI Governor Shaktikanta Das announced about the repo rate hike at the end of the three-day long meeting of the MPC. At the start of the address, Das said, "It's a season of hope and optimism.... It's an opportune moment to reflect on the evolution of Monetary Policy."