Bond yields started rising in July last year but they did display a fall in yields after the monetary policy painted a rather dovish picture.

Currencies in 500, 200 and 100 denominations are comfortable mode for transactions and the printing of Rs 500 notes have been ramped-up to about Rs 3,000 crore everyday to take care of extra demand, economic affairs secretary Subhash Chandra Garg said.

According to the Japanese financial services major Nomura, investment and consumption demand are the main drivers for India's growth, amid worsening net exports.

However, IT stocks stole the show, with TCS emerging as the top performer in the Sensex pack, a day after the company reported a 4.4 per cent rise in March quarter net profit and guided towards a better show in fiscal 2019.

\"Minutes (of the monetary policy committee) suggest that a back-ended rate hike in 2018 remains a possibility, if headline inflation exceeds the trajectory set out by the MPC,\" domestic rating agency Icra said in a note.

The six-member Monetary Policy Committee had left the benchmark repo rate unchanged for the third time in a row after deliberations on April 4-5.

Brokers said the RBI's decision to keep repo rate unchanged at 6 per cent was largely in line with market expectations and bolstered trading sentiments.

Even as interest rates are inching upwards globally, the RBI kept key rates unchanged.  Last month, the US Federal Reserve raised interest rates by a quarter of a percentage point and signalled that it is on track to raising rates two more times in 2018.

The RBI is expected to hold the Repo rate in its first bimonthly monetary policy for the year 2018-19. The interest rate softening cycle seems to have ended now. So what's stopping RBI from reducing the interest rates further in the economy. Ahead of RBI's announcement, Anand Adhikari, Deputy Editor, Business Today elaborates on the same.