RBI rise repo rate to 8%|market trading lower|Banking stocks down over 1%

On Tuesday RBI governor raghurajan boosted the repo rate 8% from 7.75%.Banking stock are expected to hike their lending rates after the RBI’S surprise move.The Indian rupee fell for third session on Monday hits 63.06 per dollar it weak more than two months. The RBI has surprised the market by hiking the repo rate by 25 paise, just after the RBI policy was announced banking stock

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