indias central bank raised its policy rate in a bid to tame elevated inflation reserve bank of india gov shaktikanta das said friday that the monetarypolicy committee decided to increase its policy repo rate by 50 basis points to 540 four of the six economists polled by the wall street journal had projected the central bank to raise the repo rate by half a percentage point while the other two expected a 35basispoint increase indias consumerprice index in june rose 701 from a year earlier compared with a 704 increase in may and the central banks inflation target range of 2 to 6 the war between russia and ukraine has disrupted supply chains and added to inflationary pressure prompting major central banks to raise rates in recent months the indian central bank raised its policy rate by 50 basis points to 490 in june following a 40basispoint increase at an offcycle meeting in may