The Reserve Bank of India (RBI) kept the repo rate at 4% and the reverse repo rate, the central bank’s benchmark for borrowing from commercial banks, at 4% at its meeting today. The interest rate remained at a record low.
RBI’s decision to keep interest rates in line with market expectations is aimed at supporting the expansion of the economy. Despite the fact that inflation in India has risen.
The Indian stock market Sensex opened today at 59,256.97 points, up 222.02 points or 0.38%.
RIL shares rose by 0.87%, Tata Steel by 0.76% and Dr. Reddys by 0.58%.