New Delhi, Sept. 28 -- Broadening inflation, strong economic growth and rising global interest rates are increasing expectations of a rate hike by the Reserve Bank of India (RBI) at its October policy meeting.

The RBI kept the benchmark repo rate unchanged at 5.25percent at its August review, citing the need for more evidence of broader inflationary pressures. Recent data shows that prices for nearly half of India's inflation basket rose 4percent or more year-on-year, compared with around one-third in March, Reuters reported.

Thirty-eight of 61 economists polled by Reuters expect the RBI to raise the repo rate by 25 basis points to 5.50percent at its October 5-7 meeting.

India's economy grew nearly 8percent in the April-June quarter, w...