The repo rate is the rate at which the RBI lends short-term funds to banks.

The RBI raised it by 25 basis points to 5.50% on October 7.

Loans linked to the repo rate tend to reprice when it changes.

The RBI cited rising inflation risks, a weaker rupee and higher crude prices.

It signalled that future moves will depend on inflation and growth.

The standing deposit facility and marginal standing facility rates were adjusted in line with the repo rate.

The RBI raised its FY27 inflation forecast to 5.2% from 5.0% in August.

It raised its FY27 GDP growth forecast to 7.1% from 6.7%.

Consumer price inflation was 4.8% in August, up from 4.5% in July, and core inflation was 4.2%, according to Forbes India.

Governor Sanjay Malhotra said rate cuts are off the table in the near term and that the next move can only be a hike or a pause, according to Forbes India.

Credit growth is running at about 19%, among the highest on record, according to the same report.

The backdrop is Brent crude near $100 a barrel, a weaker rupee and rate hikes by some other central banks, including the US Federal Reserve.

The repo rate was cut by a cumulative 125 basis points in 2025, from 6.5% to 5.25%, and was held at 5.25% for four consecutive meetings before this hike.

Business Standard’s poll had found that eight of 10 respondents expected a 25-basis-point hike.

The Sensex and Nifty had risen for two sessions into the decision, closing on October 6 at 73,067.81 and 22,776.10.

The repo rate is the rate at which the RBI lends short-term funds to banks, and loans linked to it tend to reprice when it changes.

On an illustrative Rs 50 lakh home loan over 25 years, a rise from 7.50% to 7.75% would raise the EMI by about Rs 810 a month, according to Business Today.

Reserve Bank of India building, Mumbai (file image), Wikimedia Commons, CC BY-SA 4.0

Brent crude slipped below $100 a barrel on October 6.

Petrol and diesel prices in Delhi were unchanged at Rs 102.12 and Rs 95.20 a litre.

Retail fuel prices in India do not move daily with crude.

Oil marketing companies adjust them less often.

The reports did not mention any planned change.

Tanker and Houthi-related security risks remained, according to the same report.

The Sunday Guardian described Brent as hovering near $100, with Middle East supply and Gulf tensions driving crude markets.

Indian markets rose on the day, and Business Today listed the fall in Brent below $100 as one of the factors.

The Sensex rose 685 points to close at 73,067.81 and the Nifty gained 220 points to 22,776.10.

Business Standard’s preview of the RBI’s policy meeting put crude near $107 in the backdrop, so the fall below $100 is a notable move.

The RBI’s Monetary Policy Committee announces its decision on Wednesday, October 7, and inflation stood at 4.82% in the preview.

A weak rupee and high crude prices have been part of the backdrop for the policy decision, according to Business Standard.

Petrol and diesel prices in Delhi were unchanged on October 6 at Rs 102.12 and Rs 95.20 a litre, according to Business Today and HDFC Sky.

Retail fuel prices in India do not move daily with crude, because oil marketing companies adjust them less often.

Brent is the international benchmark for crude oil, and WTI is the main US benchmark.

Brent usually trades at a premium to WTI, and the gap on October 6 was about $11 a barrel.

A strategic petroleum reserve is government-held emergency stock that can be released to ease a supply shortage.

The G7 is a group of seven large advanced economies that coordinate on issues including energy supply.

The Houthis are a Yemen-based group whose attacks on shipping have affected tanker routes in the region.

Crude oil storage (representative image), Wikimedia Commons, public domain

A listing premium is the amount by which the opening price exceeds the issue price.

SRIT India listed at Rs 148 on the NSE against an issue price of Rs 130.

That is a premium of 13.85%.

The grey market had implied a price of around Rs 162, but that is an unofficial indicator.

This report is not investment advice.

The Rs 218.40 crore initial public offering was entirely a fresh issue of 1.68 crore equity shares, with no offer for sale.

The issue opened for subscription on September 28 and closed on September 30, with a price band of Rs 123 to Rs 130 a share.

It was subscribed 125.16 times in total.

The non-institutional investor quota received the most bids, with the reserved portion subscribed 312.99 times.

The lot size was 115 shares, so the minimum retail investment at the top of the band was Rs 14,950.

An investor who got one lot at Rs 130 and sold at the NSE listing price of Rs 148 would have made Rs 2,070 before charges, on this calculation.

Before listing, the grey market premium implied a listing price of around Rs 162, according to IPO trackers.

The actual NSE listing price was below that grey market expectation, which is an unofficial indicator and not a forecast.

SRIT India Limited is a Bengaluru-based IT and IT-enabled services company, incorporated in September 1999.

The company provides digital solutions, custom application development and system integration services to government entities and enterprises in India and some overseas markets.

On listing day, a special pre-open session runs from 9 am to 9:45 am to set the listing price, and normal trading starts at 10 am.

The listing came on a day when the Sensex rose 685 points to close at 73,067.81 and the Nifty gained 220 points to 22,776.10.

NSE Exchange Plaza, Mumbai (file image), Wikimedia Commons, CC BY-SA 4.0