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Meanwhile, the bank also reported a 24% YoY growth in its operating profit to Rs 910 crore for the reporting period. On a half-yearly basis, RBL Banks net profit also witnessed an increase of 2% YoY to Rs 594 crore and the NIMs were reported at 5.35%.
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Headline inflation in India also remains fairly benign with persistent inflation pockets like vegetable prices unlikely to be materially influenced by monetary policy. All in all, we see a high likelihood that a cut is coming.
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Chinese technology giant ByteDance denied reports that the incident caused more than $10m of damage.
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