- RBI Raised Interest Rates
- RBI raised interest rates for the sixth time this year,
- Home loans would turn more expensive as banks are forced to end `teaser rates’ and due to a cap on ratio of loan to value of homes, but that could slow the rate of price rises, helping buyers.
- RBI raised the repurchase rate, the rate at which it lends to banks, by 25 basis points to 6.25% and the reverse repurchase rate by a similar margin to 5.25%.
- The Sensex in New Heights
- The Bombay Stock Exchange (BSE) zoomed to a 34 month high of 20,893.57,
- up by a whopping 427.83 points, on scattered demand at the end of the session today.The Nifty of the National Stock Exchange (NSE) also ended higher by 121.30 points to 6281.80.
The Key benchmark indices continued their uptrend, with the barometer Sensex hitting its highest level in nearly 34 months.