&w=3840&q=100)
RBI repo rate cuts alone can't shift India's economic growth gear
premium
Debashis Basu
Listen to This Article
On June 6, the Reserve Bank of India (RBI) surprised the markets — it sliced the repo rate by 50 basis points (bps) to 5.5 per cent and cut the cash reserve ratio (CRR) by 100 bps, phased over four 25-bp tranches from September to November. The move, expected to inject ₹2.5 trillion ($30 billion) into the system, briefly lifted spirits: The Nifty index climbed 1 per cent that day, with a modest gain the day after.
However, by the end of the week, the index had slumped below its pre-cut level. The rate cut is a sideshow. With the
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
43 minutes ago
- Mint
Buy or sell: Ganesh Dongre of Anand Rathi recommends three stocks to buy on Monday — 7 July 2025
Buy or sell: The Nifty continued to trade within a well-defined consolidation range of 25,200–25,600 throughout the week, closed at 25461, maintaining this zone despite external pressures. The index found stability amid rising geopolitical tensions between Iran and Israel, managing to hold above the crucial support zone of 25,000–25,200. Additionally, it sustained the immediate support near 24,800, which coincides with the 61.8% Fibonacci retracement level of the recent corrective move. From a technical perspective, a sustained close above the 25,000–25,200 zone would signal strong bullish intent, potentially paving the way for an upward move toward 25,600–26,000 levels in the coming weeks. However, if the index breaches the 24,500 mark, it may trigger a short-term pause or mild correction, especially given the current global uncertainties. Bank Nifty ended the week on a strong note, closing at 57,031. The index continues to display strength and now faces immediate resistance at 58,000, with solid support seen near 56,000. A decisive breakout above 58,000 could initiate a fresh uptrend, targeting the 58,500–59,000 levels. On the downside, any dip toward the 56,000 level is likely to witness buying interest. Long positions are actively building up in PSU banks such as SBI, PNB, and Canara Bank, while private banks like Axis Bank, HDFC Bank, and ICICI Bank also show accumulation. This reinforces a 'buy-on-dips' strategy for Bank Nifty in the near term. On a broader timeframe, both Nifty and Bank Nifty ended the week above their respective monthly support levels—23,800 for Nifty and 54,000 for Bank Nifty—indicating a continuation of the prevailing bullish sentiment. For the upcoming week, key levels to monitor include support at 24,800–25,000 and resistance at 25,600 for Nifty, while Bank Nifty holds support at 56,000–56,500 and faces resistance at 58,000. Traders are advised to remain vigilant to global cues and geopolitical developments, which may influence short-term market direction. While the underlying market trend remains constructive, a breakout above the mentioned resistance levels would confirm the resumption of upward momentum. 1. Axis Bank (AXISBANK): Buy at ₹ 1,170-1,175; Target Price at ₹ 1,220; Stop Loss at ₹ 1,140. 2. Home First Finance Co. India Ltd (HOMEFIRST): Buy at ₹ 1,350-1,355; Target Price at ₹ 1,420; Stop Loss at ₹ 1,315. 3. Tata Chemicals Ltd (TATACHEM): Buy at ₹ 940-950; Target Price at ₹ 1,020; Stop Loss at ₹ 920. Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
43 minutes ago
- Mint
Stocks to buy for short term: MRPL to Havells— Jigar Patel of Anand Rathi recommends 3 stock picks; do you own any?
Stocks to buy for the short term: The benchmark Nifty 50 has been rangebound in recent sessions, weighed down by the absence of fresh triggers. With lingering tariff-related uncertainties dampening risk appetite, investor attention has now shifted to the upcoming quarterly earnings season. The Nifty 50 ended with a mild gain of 0.22 per cent at 25,461 on Friday, July 4. However, the index fell by almost 1 per cent on a weekly basis. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that while the Nifty breached 25,300, it is yet to convincingly hold above 25,600. "The breakout is technically intact, but sustained trade above 25,600 is necessary for a potential rally toward 25,800–26,000," said Patel. On the other hand, Patel believes if the index breaks below 25,250 on the downside, it would invalidate the breakout and could trigger a corrective move, potentially trapping bulls. "The upcoming sessions are key to confirming follow-through. While the undertone has turned positive, markets remain vulnerable to quick shifts. Traders are advised to stay stock-specific, keep positions light, and maintain strict stop-loss discipline," said Patel. Jigar Patel recommends buying shares of MRPL, Havells and Vijaya Diagnostic Centre for the next two to three weeks. MRPL has recently established a strong base in the ₹ 135–140 zone, aligning with its previous breakout area from June 2022. This highlights a potential long-term demand zone. The daily Camarilla monthly pivot chart indicates an inside value relationship, reflecting healthy consolidation within a bullish structure. Adding to the strength, the daily RSI remains comfortably above 60, and rising volumes during the breakout further validate the upward momentum. "Considering this constructive setup, long positions are recommended in the ₹ 151–148 zone, aiming for an upside target of ₹ 170. A stop loss should be placed below ₹ 138 on a daily closing basis," said Patel. MRPL Havells has recently formed a strong base around the ₹ 1,500 level, indicating solid support at lower levels. Notably, the stock has broken above a descending trendline, signalling a potential shift in trend. It is also sustaining above mentioned trendline, further strengthening the bullish setup. Adding to this positive structure, a hidden bullish divergence is visible on the daily RSI chart, suggesting underlying momentum is building despite recent consolidation. This confluence of technical signals makes Havells an attractive buy candidate at current levels. "We recommend going long in the ₹ 1,580– ₹ 1,570 zone, with an upside target of ₹ 1,750. A stop loss should be placed below ₹ 1,500 on a daily closing basis to manage risk effectively," said Patel. Havells India Vijaya has been consolidating within the ₹ 900–1,000 range for the past two months. In the previous session, it finally broke out of this range and closed decisively above it, indicating a potential trend shift. Supporting this move, the daily Camarilla monthly pivot chart shows an overlapping higher-value relationship, reinforcing the bullish structure. Additionally, the daily RSI is comfortably placed above the 60 mark, lending further strength to the positive outlook. "Given this setup, we recommend initiating long positions in the ₹ 1,010–1,020 zone, targeting an upside towards ₹ 1,125. A stop loss should be placed below ₹ 960 on a daily closing basis," said Patel. Vijaya Diagnostic Centre technical chart Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
NDTV
an hour ago
- NDTV
Reserve Bank of India Hiring Liaison Officers With Salary Up To Rs 2.73 Lakh Per Month
RBI Recruitment 2025: The Reserve Bank of India (RBI) has opened applications for the post of Liaison Officer. This recruitment drive is aimed at onboarding experienced professionals who can serve as key communication links between the central bank's top leadership and various government and law enforcement agencies. Interested candidates must submit a hard copy of their application through post, courier, or hand delivery to the RBI Services Board, Mumbai. Additionally, a soft copy of the same, along with all supporting documents, should be emailed to documentsrbisb@ The last date to apply is July 14, 2025 (by 6 PM) RBI Recruitment 2025: Total Vacancies RBI has notified four vacancies for the post of Liaison Officer. RBI Recruitment 2025: Eligibility Criteria Nationality: Applicants must be Indian citizens. Citizens of Nepal, Bhutan, Tibetan refugees (who came to India before January 1, 1962), and individuals of Indian origin who migrated from specified countries are also eligible under certain conditions. Age Limit: Candidates must be between 50 and 63 years as on July 1, 2025. Educational Qualification: A Bachelor's degree from a recognized university is mandatory. Experience: Prior experience in liaison or protocol duties in a public sector bank or with the Reserve Bank of India is essential. Job Responsibilities The role of Liaison Officer involves: Acting as a single point of contact for top management at the RBI. Coordinating liaison activities with law enforcement and government agencies. Managing protocol duties and supporting the central bank's leadership with external engagements. Terms of Appointment The initial contract period is 3 years, which may be extended by up to 5 years based on performance. Salary And Benefits The monthly salary will range from Rs 1,64,800 to Rs 2,73,500, depending on experience and location (inclusive of housing expenses). Annual increments will be based on inflation-adjusted revision. • Additional benefits include: • Travel and housing allowances (TA/HA) • Mobile phone facility • Sodexo meal card Selection Procedure Candidates will be shortlisted through preliminary screening, followed by document verification and a personal interview. For more details and to download the official notification, visit the RBI's official website.
