Sensex welcomes RBI’s jumbo 50 bps rate cut, surges over 500 points
Mumbai, June 6 (IANS) The Indian benchmark indices surged on Friday after the RBI Governor Sanjay Malhotra announced a jumbo 50 bps rate cut — from 6 per cent to 5.5 per cent — and a 100 basis point cut in the Cash Reserve Ratio (CRR), from 4 per cent to 3 per cent.The immediate effect of the decision was seen on the Indian stock market. At around…
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