IDBI bank announces limited period special 500 days deposit
IDBI Bank has introduced a limited period special 500 days deposit under the Amrit Mahotsav FD scheme
For retail investors, this is a great time to invest in fixed-income products and they can continue to enjoy and lock in high yields now across various products such as government bonds, corporate bonds, and fixed deposit (FD) instruments, says Saurav Ghosh, Co-Founder, Jiraaf.
RBI keeping the key repo rate unchanged at 6.50 per cent is in line with expectations given the core inflation has reduced and growth rate projections are in line with expectations. This is good for the broader industry at this time as it adds stability and predictability, he said.
Sonam Srivastav, smallcase Manager and Founder, Wright Research, said from a stock market perspective, the announcements are likely to influence investor sentiment and market dynamics. The acknowledgement of surplus liquidity and the RBI’s liquidity management efforts may lead to a positive reaction in the stock market, particularly among banking stocks.
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Any indication of accommodative monetary policy measures could further bolster investor confidence, potentially driving upward momentum in the stock market. However, concerns over inflation and global economic risks may temper market gains. Banking sectors could benefit from the RBI’s focus on liquidity management, while sectors sensitive to interest rate changes, such as real estate and infrastructure, may also see some impact, Srivastav said.
Additionally, sectors reliant on domestic consumption, such as FMCG and retail, could benefit from stable financial conditions and improved consumer sentiment. Overall, the stock market’s momentum post-meeting will likely be influenced by a combination of domestic economic factors and global market trends, Srivastav said.
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