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Banking stocks rally as RBI delivers surprise rate and CRR cuts; Nifty Bank jumps 1.6%, Nifty Fin Services surges 2%

Admin06 mins

Shares of banking and financial services companies soared on Friday after the Reserve Bank of India (RBI) delivered a larger-than-expected 50 basis point (bps) cut in the benchmark repo rate and a surprise 100 bps reduction in the Cash Reserve Ratio (CRR). The Monetary Policy Committee’s (MPC) aggressive move, along with a shift in policy…

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Stock Exchange 642896 1686045286206 1749187277368

RBI’s surprise 50 bps rate cut lifts markets, Sensex soars over 500 points, Nifty above 24,900

Admin06 mins

Indian benchmark indices Sensex and Nifty ended higher on June 6, reversing early losses after the Reserve Bank of India (RBI) surprised markets with a larger-than-expected 50 basis points repo rate cut in its June monetary policy review. The RBI-led Monetary Policy Committee (MPC), under Governor Sanjay Malhotra, also shifted the policy stance from ‘Accommodative’…

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