Sensex tanks 1,307pts on RBI's sudden 40bps rate hike; Nifty breaks 16,700

Meanwhile, the mega LIC IPO was off to a steady start, with policyholder and employee segment receiving strong response on Day 1 of the offer period.

2:23 PM

NEWS ALERT :: Today's actions aimed at controlling inflation, says Shaktikanta Das

>> Will ensure medium-term growth prospects

>> Remain mindful of high inflation on output

>> Our actions will be caliberated

>> Reiterated that RBI will ensure adequate liquidity to support growth

2:22 PM

NEWS ALERT :: RBI increases CRR by 50 bps to 4.5% of NTDL

>> With effect from fortnight of 21 May, 2022

>> Impact on liquidity: Rs 87,000 crore

Alert: CRR is Cash Reserve Ratio
          NTDL is Net Time and Demand Liability

2:20 PM

NEWS ALERT :: SDF stands adjusted to 4.15%, MSF to 4.65%

2:18 PM

NEWS ALERT :: We are reversing the 40 bps reduction done in May 2020, says RBI Guv

>> Action in-line with reversal of liquidity support measures announced over the past months

2:14 PM

NEWS ALERT :: Geopolitical risks are evolving and lingering, says RBI

2:12 PM

NEWS ALERT :: The rebound in domestic activity looks broad-based, says RBI Guv

>> Robust agri output should support recovery

2:11 PM

NEWS ALERT :: Global growth projections revised downwards by up to 100 bps

Guv says:

>> MPC noted domestic economic activity is progressing as expected

>> Contact-sensitive sectors seeing pent-up demand

>> MPC noted that economy needs caliberated steps

>> Monetary policy response at this juncture will ensure financial stability

2:09 PM

NEWS ALERT :: Stance remains 'accommodative'

>> Inflation is spreading fast

>> War has moderated external demand

>> Brent crude is ruling above $100/bbl and remain volatile

>> Inflation sensitive items are facing shortages

2:08 PM

NEWS ALERT :: RBI raises rates by 40 bps to 4.40% with immediate effect

2:07 PM

NEWS ALERT :: April inflation expected to be inflated, says RBI Guv

>> Inflation expectations may de-anchor

>> Must remain in readiness to maintain economic stability

2:06 PM

NEWS ALERT :: Risks from inflation are rising, says RBI Guv Shaktikanta Das

>> It is necessary to be sensitive to new realities

>> As per recent IMF outlook, the economic impact of the war is spreading far and wide

RBI governor Shaktikanta Das

2:03 PM

NEWS ALERT :: Accommodative monetary policy continues to foster growth, says Shaktikanta Das

2:02 PM

NEWS ALERT :: Indian economy has shown resilience amid geopolitical tensions, says RBI Guv

2:02 PM

NEWS ALERT :: RBI Guv Shaktikanta Das begins media address

2:01 PM

BOND MARKET UPDATE :: Yields on 10-yr bonds harden over 1%