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Banking Stocks Witness Selloff After RBI Policy

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After the panel's three-day meeting on June 4, RBI Governor Shaktikanta Das announced important rate decisions on Friday.

 

The Reserve Bank of India (RBI) chose 'Status Quo' for the sixth time in a row, sending Indian markets into a tailspin. The Reserve Bank of India announced its second bi-monthly monetary policy for FY22 on Friday.

Following the announcement of the RBI policy, the Nifty 50 index retreated from its all-time highs and was trading flat. Similar feelings were seen on the Sensex. Stocks in the banking sector have been under selling pressure.

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CPI inflation is expected to be 5.1 percent in FY21-22, according to RBI governor Shaktikanta Das, who cited reasons such as the coronavirus pandemic, PMI data, enterprises that have adapted to pandemic operating, and the anticipation of a normal monsoon. For the fiscal year FY22, real GDP is predicted to be 9.5 percent.

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