The rate hike was decided by a majority of 5 out of 6 members. The policy pegged India’s GDP growth at 7% during the financial year 2023 and maintained inflation at 6.7% for the same period. Going forward, RBI will remain resolute and continue with its efforts to ensure price stability as well as financial stability, while supporting growth.
Market Trading Guide: Know why BEML, HUDCO are among 5 stock recommendations for Monday
Indian markets fell on Friday amid profit booking in IT and healthcare stocks but headline indices still managed to end with near 4% weekly gains.