India's central bank hikes rates for first time in nearly four years as inflation bites

The Reserve Bank of India has signalled more interest rate hikes to come, after tightening policy for the first time in nearly four years to stem inflation. The central bank has also raised its inflation forecast to 5.2% for this financial year and the GDP growth outlook to 7.1%. The Indian rupee is not too far off its record lows, while higher oil prices are adding to import costs. Rebecca Bundhun reports from Mumbai.