RBI announced monetary policy yesterday with 25 basis points repo-rate cut. The markets were expecting small rate cut but the downward revision of GDP by RBI led to decline in stock markets.
RBI Panel reduced repo rate by 25 basis points. The decision will be positive for the economy and if banks pass on the benefits, their loan book can grow.
The Reserve Bank of India reduced repo rate by 25 basis points. Considering the state of Indian economy and struggling sectors, the rate was expected by majority of economists and market experts.
Indian real estate sector witnessed nearly 20% decline in sales in seven major cities. However, the prices have been stable as new supply declined by 34% as compared to the same period last year.
Indian markets cheered the announcement of corporate tax reduction with one of the biggest single-trading session gains in last 10 years.
Indian economy is going through tough times but the positive thing is regular measures announced by finance minister Nirmala Sitharaman.
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