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Banking stocks give thumbs up to RBI’s policy
June 09, 2022
According to stock market experts, RBI’s decision to keep the CRR unchanged and hike the repo rate has led to a good fall among banking stock enthusiasts. He said that he is glad to see that RBI MPC Growth factors are not left out of consideration completely and if inflation calms down, growth may again take priority, a situation that will benefit the banking sector through increased credit line demand.
Speaking on the reasons for the rise in banking stocks after the RBI policy announcements, Ravi Singhal, Vice Chairman, GCL Securities said, “As of today RBI Policy Announcement, India’s central bank has increased the repo rate by 50 bps but has kept the CRR unchanged which is expected to boost the banking business. This scenario will enable Indian banks to get more money for lending and more income through interest rate hikes.”
Echoing with Ravi Singhal of GCL Securities, Ladderup Wealth Management Pvt Ltd Managing Director Raghavendra Nath said, “The CRR was expected to increase, but it seems that RBI has decided to maintain liquidity with banks for now.”
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