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NEW DELHI: Rate sensitive stocks in sectors such as auto, realty and banks were trading higher as the six-member monetary policy committee (MPC) of the Reserve Bank of India, headed by Governor Shaktikanta Das, on Wednesday maintained status quo on the policy rates.
The decision comes in the backdrop of a second wave of COVID-19 infections that has raised concerns over economic recovery.
Economists had expected the MPC to stand pat on policy rate as well as on growth projections for this financial year. The rate-setting panel also decided to stick with its “accommodative” monetary policy stance for “as long as necessary”.