NBFC Stocks Rally After RBI’s Surprise Rate and CRR Cuts

Shares of NBFCs like Bajaj Finance and SBI Cards surged up to 4% on June 6 after RBI slashed the repo rate by 50 bps and CRR by 100 bps. Governor Sanjay Malhotra noted easing stress in unsecured loans, boosting investor sentiment and lifting the Nifty Financial Services index by 1.3%.