Impact on Market After RBI Raised Purchase Rates

ICICI Bank stock dipped 3.9% and SBI shares lost 3.6% on Thursday
after the Reserve Bank of India raised its lending rates to control
inflation recently. RBI raised its purchase rate by quarter point to
8% on Wednesday. This reflects the probability of lifting interest
rates, showing credit expansion. Due to this the Sensex fell 2.8% to
14,765.83.

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