View on RBI announcement By Dr. VK Vijayakumar, Geojit Financial Services
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Below are View On RBI announcement By Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The MPC's decision, in an unscheduled meeting, to raise the repo rate by 40bp and CRR by 50 bp is a surprise since it came on the LIC IPO opening date. MPC's proactive move is justified from the perspective of inflation management, but the timing leaves a lot to be desired. The above 1000 point crash in Sensex has soured the sentiments on the opening day of India's largest IPO. The 10-year bond yield has spiked to above 7.39% indicating an imminent rise in the cost of funds"
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