Katya Naidu10 Aug 2023, 11:53
Indian benchmark indices, the Nifty and the Sensex, slid over half a percent soon after the Indian central bank’s monetary policy committee (MPC) kept base interest rates unchanged but raised inflation projections for FY24 to 5.4% from 5.1% earlier. Moreover, the inflation projection for the second quarter has shot up to 6.2%. The Nifty Bank, which tracks the top banking stocks in the country, slid over 300 points. "Vegetable prices may see a significant correction in the next few months but uncertainties may remain in domestic food price outlook," said RBI governor Shaktikanta Das in his speech on Thursday.