New Delhi, Oct. 1 -- US tariff hikes have increased the risk of supply-chain disruptions, which could impede the ongoing disinflation and make it harder to ease monetary policy, the Reserve Bank of India (RBI) warned in its semi-annual monetary policy report released on Wednesday.

"For emerging market economies, the external environment poses several challenges, including weak global growth, high tariffs, heightened uncertainty, volatile capital flows, and geopolitical tensions," the report noted.

Even as India's economic outlook remained "resilient", risks from adverse weather events, evolving tariff actions, and volatile global financial markets were expected hinder growth and disinflation, the RBI said.

Concerns around external risk...