On Thursday, RBI (Reserve Bank of India) cut down repo rate to 6.25 per cent. The central bank has decreased 25 basis points following the voting poll amid decision-makers.
It is the first time that the central bank has slashed rate. The last time, the repo rate slashed in August 2017. Further, the MPC has amended the policy stance to neutral from the earlier, calibrated tightening. For newly appointed RBI governor, Shaktikanta Das, this is the first modification in monetary policy of the central bank.
At 12.48 pm, the Nifty bank is trading 0.084 per cent low at 27, 379.40. The companies which are leaping upward in the bank index are Sun Pharma ( 5.32 per cent) , Bajaj Auto (2.88 per cent), Zee Ent. (2.55 per cent), Bharti Infratel (1.91 per cent), Hero MotoCrop (1.81 per cent), Tata Motors (1.79 per cent) , UltraTech Cement (1.70 per cent), YES bank (1.42 per cent), Bharti Airtel (1.34 per cent) and MM (1.29 per cent).
On the other hand, BSE Sensex has leapt upward at the same time by 0.092 per cent to 34.14