RBI has delivered its first interest rate hike in nearly four years, as anticipated, with investors now turning to the Q2 earnings season for clues on the road ahead for banking stocks.
The Reserve Bank of India’s Monetary Policy Committee raised the repo rate by 25 basis points to 5.50% on Wednesday and shifted its policy stance from ‘Neutral’ to ‘Calibrated tightening’. RBI Governor Sanjay Malhotra said geopolitical developments continued to pose challenges to the global outlook, while the Indian economy remained strong and was expected to stay resilient.
