Post rate hike by RBI, SBI, BoB look stronger than private banks on charts

Public sector banks are well placed on charts, indicate positive upside in coming days, while Private Banks rigorously need to take off their respective hurdles.

The RBI Governor Shaktikanta Das announced a half percentage point hike in the repo rate, on expected lines, as infaltion remained elevated, and a depreciating rupee coupled with global uncertainties weighed on the Indian economy. 

The governor stated that inflation has been hovering around the 7 per cent mark, and they expect it to remain elevated around 6 per cent % in the second half of the year.

Since May this year, the central banker has hiked rates four times, with a total of 190 basis points. According to analysts, RBI's reluctance to change stance from 'withdrawal of accommodation'