India’s Central Bank Repo Rate Stifles Market



A higher than expected lending rate hike by the State Bank of India, the country’s biggest lender, has markets reeling. India’s stock market fell this morning on the news of a point 5 percent increase, twice was was anticipated be experts. Sensex dropped some 353 points to 18.518, while the Nifty closed 105 points lower at 5,574. The Repo rate hike stands to stifle Indian recovery, according to some experts.

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