Sensex is down, Rupee is up, banks are down and suddenly a lot of people think that he is unfair and handsome. . But Friday began with a surprise repo rate rise by RBI boss Raghuram G. Rajan
The Reserve Bank of India’s (RBI) new Governor Raghuram Rajan increased the repo rate by 25 basis points to 7.5 per cent from 7.25 per cent and reverse repo report to 6.5 per cent from 6.25 per cent.
Reacting to the policy outcome, the S&P BSE Sensex closed 382 points after hitting nearly 3-year high in the previous session. The benchmark index closed at 20,263.71, down 1.8 per cent.