According to traders, the RBI's decision to keep the interest rate on hold is in sync with investor expectations
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The pain will linger, and no quick fixes are in sight
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The six-member monetary policy committee voted 5:1 for the decision, with only Ravindra Dholakia voting for a 0.25 per cent reduction in rates
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Five members of the monetary policy committee voted to keep rates unchanged, with one voting for at least a 25 bps cut
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The next time you're about to fall for this pernicious little trap, take a pause and consider that doing so would almost fully negate any compounding benefits that could have accrued on this corpus
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Bankers however are of the view that the Reserve Bank of India (RBI) would maintain status quo as inflation has risen
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In short, the financial services arm of engineering giant Larsen & Toubro had badly missed the bus and the bull- run that the industry had till last year, but fortunately moved up the ladder in the past six quarters
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The RBI reduced the repo rate by 0.25 per cent to 6 per cent in August, citing reduction in inflation risks. The rate cut was the first in 10 months and brought policy rates to a near 7-year low
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