RBI policy: Any weakness in rate sensitive stocks is an opportunity to buy

Nifty Bank is expected to touch 36,600 levels, as per the technical chart

The Reserve Bank of India's on Friday kept the benchmark interest rate unchanged amid coronavirus uncertainty and fears over inflation. The repo rate (lending rate) will continue at 4 per cent and reverse repo rate (RBI’s borrowing rate) at 3.35 per cent. With this, the repo rate has remained unchanged for a sixth consecutive time.

Meanwhile, the central bank has cut its projection for gross domestic product (GDP) growth for fiscal 2021-22 (FY22) to 9.5 per cent from the earlier forecast of 10.5 per cent. Consumer price inflation (CPI), the central bank said, is likely to be at 5.1 per cent