Top ten rate sensitive stocks to bet on as RBI cuts repo rate by 50 bps
NEW DELHI: The Reserve Bank of India (RBI) in a surprise move slashed repo rate by 50 basis points from 7.25 per cent to 6.75 per cent with immediate effect on Tuesday. Most analysts on Dalal Street were hoping for a 25 bps cut.
The central bank kept the cash reserve ratio (CRR) for scheduled banks unchanged at 4.0 per cent “Since our last policy review, the bulk of our conditions for further accommodation have been met. The January 2016 target of 6 per cent inflation is likely to be achieved,” RBI said in a statement.