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Nifty Bank rises 650 points as report says RBI unlikely to hike rates to defend rupee; Axis, ICICI, HDFC shares jump up to 2%
Indian bank stocks surged on Friday morning. This followed a report indicating the Reserve Bank of India is not planning interest rate hikes to counter the rupee's decline. The RBI is reportedly focusing on inflation as the primary driver for its monetary policy decisions. Other measures are being considered in coordination with the government.
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cryptobriefing.com
Reserve Bank of India considers rate hikes and currency swaps to stabilize sliding rupee
The Reserve Bank of India is considering interest rate hikes and currency swaps to stabilize the rupee after it hit an all-time low of 91.7425 against the dollar.
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thehindu.com
RBI considers rate hike as rupee slumps: reports
RBI considers interest rate hike to stabilize the rupee amid recent declines, following internal discussions among top officials.
