The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) decided unanimously (6-0 vote) to hold all policy rates unchanged, broadly as expected by a majority of the market.
The Indian equity market continued their upward momentum in July with markets rebounding by 46% from March lows and only 10% below the YTD/all-time peak in mid-January.
Indian sovereign bond closed at 5.84% vs 5.88% from its previous close. The Reserve Bank of India decided to keep the benchmark repo rate unchanged at 4%, and reverse repo rate at 3.35%.
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