RBI’s monetary policy committee is likely to deliver the expected rate hike of 25 basis points (bps) during its meeting on April 3-6, even as global markets lowered rate hike bets from the US next week following the banking crisis, economists said on Tuesday.

India’s headline and core inflation has been unrelenting, with data post market close on Monday showing annual retail inflation remained above the Reserve Bank of India’s (RBI) upper limit, easing only slightly from January’s 6.52pc.