http://www.businesstimes.com.sg/brea...-rate-20140128

[MUMBAI] India's central bank hiked its key interest rate by 25 basis points on Tuesday in a surprise move aimed at taming inflation, which remains above the bank's comfort level.
After a meeting in the financial capital Mumbai, the Reserve Bank of India (RBI) said the benchmark repo rate, at which it lends to commercial banks, would rise to 8.0 per cent.
Several economists had predicted that rates would be kept on hold after the widely watched Wholesale Price Inflation index fell to 6.16 per cent in December from a year earlier, down sharply from 7.52 per cent the previous month.
But a statement from RBI governor Raghuram Rajan said pressure on inflation remains from economic factors such as the rising prices of services.