Now Reading: RBI Holds Rates, Rupee Steady; Ardee IPO Sees Heavy Demand
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RBI Holds Rates, Rupee Steady; Ardee IPO Sees Heavy Demand
The Reserve Bank of India decided to leave interest rates unchanged in its latest monetary policy review, a move that was widely anticipated. The rupee edged up against the dollar over the…
The Story in Brief
The Reserve Bank of India decided to leave interest rates unchanged in its latest monetary policy review, a move that was widely anticipated. The rupee edged up against the dollar over the week.
Ardee Industries' initial share sale attracted heavy demand from investors, reflecting confidence in the company. The Delhi High Court provided relief to Dabur India by staying an FSSAI directive. Separately, bureaucrat Tukaram Mundhe faced criticism for his actions during the week.
The Indian Opinion
Some commentators have criticised the RBI for not cutting rates to support growth. But with inflation still above target, a hold was the prudent call. The real test will come with the next retail inflation print, due next month. If it falls sharply, the demand for a cut will grow louder.
Sources (2): ndtvprofit.com, ndtvprofit.com (2)
This story was synthesised by AI from the 2 sources linked above.
