RBI MPC announcement: Bond yield rises over 1 basis point
The Reserve Bank of India (RBI) kept monetary policy rate unchanged at 6.50 percent.
Source: moneycontrol.com
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The Reserve Bank of India (RBI) kept monetary policy rate unchanged at 6.50 percent.
Indian government bond yields plummeted this week, with the benchmark yield posting its biggest drop in 15 months, as investors cheered a fiscally-prudent federal budget and as U.S. Treasury yields nosedived.
In the Union Budget 2024, Finance Minister extended the 50-year interest free loans to state governments for another year, as part of the government's Gati Shakti master plan.
Lower-than-expected fiscal deficit cheered bank stocks as cost of borrowing reduces