The Reserve Bank of India (RBI) is expected to maintain interest rates during its three-day meeting which started on 4 June. Favourable economic conditions, including 4.7% consumer price index-based inflation, easing crude oil prices and 6.1% GDP growth are credited with the rise. The positive data has resulted in widespread optimism among investors that interest rates will not change during the upcoming policy meeting, but Santosh Meena, head of research for Swastika Investmart, argues that the Nifty Bank index is showing signs of exhaustion and may experience profit-taking and a downturn.
