Indian shares rise on central bank’s interest rate decision
- Last updated: April 7, 2021 | 17:37
Gulf Today Report
Indian shares gained on Wednesday after the country’s central bank left key interest rates unchanged.
The NSE Nifty 50 index rose 0.8% to 14,809.70 and the S&P BSE Sensex was up 0.7% at 49,559 by 04:49 GMT.
The Reserve Bank of India (RBI) kept interest rates steady at record lows amid concerns that rising COVID-19 infections could derail the country's nascent economic recovery.
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In March 2020, the central bank reduced the repo rate by a total of 115 basis points (bps) to help the pandemic-hit economy.
The International Monetary Fund said on Tuesday unprecedented public spending to fight the pandemic would push global growth to 6% this year, while projecting India's growth rate at 12.5% for 2021.