RBI Monetary Policy Meeting Outcome

As a trader, one needs to keep an eye on RBI monetary policy meetings and RBI governor statements. Today was the day when RBI came out with its policy update which are as appended below:

- RBI's Monetary Policy Committee decides to maintain the Repo Rate at 4% in October policy.

- MPC voted 5:1 to maintain an accommodative stance. MSF rate & Reverse Repo rates also remain unchanged says RBI governor Mr. Shaktikanta Das.

- Pent-up demand, the festival season should boost urban demand. Recovery in demand gathered pace in Aug-Sep.

- Pick-up in import of cap goods points to some recovery in activity.

- Core inflation remains sticky.

- India is in a much better place today than at the time of the last MPC meeting. Growth impulses are strengthening, inflation trajectory more favorable than expected.

- RBI maintains FY22 GDP growth at 9.5% with growth estimates for Q2 and Q3 being raised from earlier estimates.

RBI meet has an imp role to play and we keep a watch on it while providing our Bank Nifty Option Tips for today or tomorrow as one needs to be vigilant to avoid being taken off guard.