New Delhi, Oct. 7 -- ASSOCHAM Secretary General Saurabh Sanyal on Wednesday welcomed the Reserve Bank of India's 25-basis-point repo rate hike, saying the increase was necessary to contain inflation while economic growth and most major sectors remained resilient.

The RBI's Monetary Policy Committee on Wednesday raised the policy repo rate by 25 basis points to 5.50 per cent amid rising inflation risks, while maintaining a strong outlook for domestic economic growth.

"This is a very good move by the RBI Governor... the 25-basis-point increase is not a very large hike. It has been done to control the inflationary trend," Sanyal told ANI.

He said the rate increase would help tackle rising price pressures without significantly disrupting g...