RBI lifts key rates, CRR; signals more tightening

The Reserve Bank of India (RBI) raised key interest rates by 25 basis points and said further rises were likely as it moves to return monetary policy towards pre-crisis settings and battles near double-digit inflation. Meanwhile, Chanda Kochhar, Managing Director and Chief Executive Officer of India's largest private sector lender ICICI Bank ruled out any immediate impact on the economy.