Non-bank finance companies (NBFCs), however, may feel more heat, except those engaged in mortgage financing
Cost of borrowing to go up; analysts say robust tax revenues crucial
Growth forecast was cut to 7.2 per cent, from 7.8 per cent for FY23. Both forecasts were made assuming crude oil prices at $100/bbl
"You should look at this measure as when it gets tough, RBI stands alone now," a source said
CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times
Real estate and automobiles, which were showing signs of a nascent recovery, will bear the brunt of higher interest rates
The 10-year government bond shot up 26 bps, with the street expecting another rate hike in the June policy
On Wednesday, 10-year government bond yields ended the day at 7.4 per cent, against Monday's closing of 7.1 per cent
The bond markets also saw a sell-off, and the yield on the 10-year government bond rose to 7.37 per cent, hitting a three-year high
In the last policy meeting in April, the monetary policy committee (MPC) of the RBI had shifted its focus to tackle the rising inflation in India after the Russian invasion of Ukraine
Geopolitical tensions, rising inflation, the skewing margin of India Inc and slow growth are casting a shadow over Dalal Street. Will May see investors following the adage 'Sell in May and go away'?
'The markets should not assume we will guide them, because the data is coming without warning', said Varma
The RBI has also proposed to allow interoperability in cardless cash withdrawal transactions at all banks and ATMs using the UPI facility
We are watchful and the situation is dynamic and fast changing and all our actions will be tailored accordingly, says Shaktikanta Das
This is expected to enhance ease of transactions and eliminate frauds at the same time
Sets stage for rate hikes after June policy amid high oil prices, yields
CLOSING BELL: The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations
RBI monetary Policy: As the central bank keeps the repo rate unchanged at 4 per cent, here is what the industry experts has to say
AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.
The rupee advanced 23 paise to 75.80 against the US dollar in the opening trade on Friday, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate.