Indian equity markets indexes trimmed their early gains due to profit booking in banking stocks after the RBI Policy announcement.

At 12 pm on 8Feb, Sensex is trading higher by 0.77% while Nifty and Bank Nifty are up 0.86% and 0.26% respectively after the RBI Policy was announced

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The RBI on 8 Feb, raised the key repo rate by 25 basis points (bps) as widely expected, the sixth straight increase Since April 2022

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The RBI Governor projected CPI Inflation cut to 6.5% in FY23 from 6.7% and estimated at 5.3% in FY24

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The RBI Governor says real GDP growth for FY24 projected at 6.4%

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The MPC panel retained its stance of withdrawing accommodation.

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The current account deficit situation has improved in 3Q after rising in 1H, is expected to moderate in 2H, and remains eminently manageable

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Inflation is moderating, economic growth continues to be resilient, and system liquidity remains in surplus

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Propose to permit all inbound travelers into India to use UPI for merchant payments while they are in the country

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