RBI hikes repo rate by 25 basis points to 6.25 %

Tensions in the Middle East are escalating rapidly after Iran’s Islamic Revolutionary Guard Corps claimed a series of missile and drone strikes across the region. Iranian officials say key military targets linked to the United States and Israel were hit, including the Muwaffaq Salti Air Base in Jordan and assets in Tel Aviv and Beersheba using Khorramshahr-4 “Khaybar” missiles. The United Arab Emirates reported more than 1,400 Iranian missiles and drones targeting infrastructure and civilian sites. Meanwhile, a drone strike allegedly damaged a vital US radar system at al-Harir Air Base in Iraq. With explosions reported in Erbil and increased US military activity, fears are growing that the conflict could escalate into a wider regional war.