The Monetary Policy Committee (MPC) of the Reserve Bank of India decided to raise the key benchmark interest rate by 25 basis points to 6.5 per cent on Wednesday. Four out of six members of MPC have decided to go ahead with this hike in the repo rate, RBI Governor Shaktikanta Das said on Wednesday. Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on February 6 amid the rate hiking spree that started in May last year to check inflation.