⚡Sensex Welcomes RBI’s Jumbo 50 Bps Rate Cut, Surges Over 500 Points

The Indian benchmark indices surged on Friday after the RBI Governor Sanjay Malhotra announced a jumbo 50 bps rate cut — from 6 per cent to 5.5 per cent — and a 100 basis point cut in the Cash Reserve Ratio (CRR), from 4 per cent to 3 per cent.