The Monetary policy committee (MPC), which determines interest rates, opted to raise the policy repo rate by 35 basis points to 6.25 per cent with immediate effect.
Mumbai (Maharashtra) [India], September 30 (ANI): The Indian stock market's benchmark Sensex surged by more than 1,200 points in the intra-day on Friday after the Reserve Bank of India (RBI) hiked the policy repo rate by 50 basis points, which was largely expected by the market.
Mumbai (Maharashtra) [India], May 10 (ANI): The country's largest lender State Bank of India (SBI) has hiked interest rates on domestic bulk term deposits of Rs 2 crore and above by up to 0.90 per cent with effect from Tuesday.
Mumbai (Maharashtra) [India], April 8 (ANI): Reserve Bank of India's (RBI) Monetary Policy Committee on Friday voted to keep the benchmark repo and reverse repo rates unchanged for the 11th consecutive time.
Mumbai (India), December 7 (ANI): Indian stock markets bounced bank on Tuesday with benchmark Sensex surging 886 points on broad-based buying support in line with the surge in global equities. The rally in the stock markets made investors richer by Rs.3 lakh crore.