The Reserve Bank of India on Tuesday raised its repo and reverse repo rates by 50 basis points each in a bid to control mounting inflation, while lowering the economic growth projection to 8% for the current fiscal.
FIIs were taken aback to see a greater-than-expected hike in the interest rates as there were concerns that it may affect India's investment cycle. Jim Walker, managing director of Asianomics Limited, in an interview with CNBC-TV18Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
