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RBI's reduction of key lending rates makes Indian equities fall
The Reserve Bank of India in it's third bi-monthly monetary policy review of 2017-18 announced that the repurchase rate, or the short-term lending rate for commercial banks on loans taken from it, stands lowered to 6 per cent from
Mumbai: The Indian equity fell into the red after the RBI on Wednesday reduced its key lending rate by 25 basis points (bps).
The Reserve Bank of India in it's third bi-monthly monetary policy review of 2017-18 announced that the repurchase rate, or the short-term lending rate for commercial banks on loans taken from it, stands lowered to 6 per cent from 6.25 per cent.
Around 1445 hours, the wider Nifty 50 of the National Stock Exchange (NSE) fell by 30.70 points, or 0.30 per cent, to trade at 10,083.95 points.
Also Read: Markets open on a positive note on Wednesday | Sensex up 0.25%
The 30-scrip Sensitive Index (Sensex) of the BSE, too, declined by 106.02 points or 0.33 per cent to trade at 32,469.15 points.
Arnima Dwivedi
A journalist, presently working as a sub-editor with newstrack.com. I love exploring new genres of humans and humanity.
