India, Oct. 7 -- The Reserve Bank of India (RBI) raised its benchmark repo rate by 25 basis points to 5.5% on Wednesday, its first rate hike in nearly four years, as inflationary pressures mounted despite robust economic growth.

RBI Governor Sanjay Malhotra said future policy action would be limited to either a rate hike or a pause, as he emphasised that the Indian economy remains resilient.

He said economic activity continues to maintain broad-based momentum, with the economy showing strength. Malhotra added that the Monetary Policy Committee unanimously decided to raise the policy interest rate.

The MPC's three-day meeting, being held from October 5 to 7, comes after it kept the repo rate unchanged at 5.25 per cent in August and reta...