Key Highlights
- 90.
- The RBI's decision to lower interest rates by 25 basis points to 5.25% comes despite ongoing concerns regarding the rupee's depreciation, with the goal of further stimulating economic growth, which has surged to a six-quarter high of 8.2 percent in the second quarter of the current fiscal year.
- This move is anticipated to make loans, including those for housing, automobiles, and commercial purposes, more affordable, according to experts.
- In announcing the fifth bi-monthly monetary policy for this fiscal year, RBI Governor Sanjay Malhotra stated that the Monetary Policy Committee (MPC) has reached a unanimous agreement to reduce the short-term lending rate, known as the repo rate, by 25 basis points to 5.25%, maintaining a neutral stance.
- Nifty 50 remained under pressure as the index failed to build strength above the 26,000 mark.