Off The Cuff

“Out Of Course”: Memes Galore After RBI’s Sudden Rate Hike

May 4, 2022
Bharat Times

LIC is one of the most awaited IPO ever

New Delhi:

It was a regular Wednesday until the Reserve Bank of India announced that it had raised its prime lending rate by 40 basis points to 4.40 per cent. Additionally, the central bank also increased the cash reserve ratio by 50 basis points. Not only this, the hike that took the major market players by surprise also coincided with the first day of Initial Public Offering (IPO) of Life Insurance Corporation of India. The IPO that opened today to raise Rs 21,000 crore from investors is one of the most awaited IPOs ever. Undoubtedly, the big development caught the attention of Twitter users, who reacted to the news with memes and jokes.

Many users were quick to point out how the RBI’s move came on the day LIC’s IPO itself, and some were not impressed.

Did RBI just steal LIC’s thunder? Some users think so.

Besides, there was bahubali Reference, with RBI as Katappa. Yes, you read that right.

And, a Rajinikanth meme too.

People were also open about how the RBI move affected their decision.

If LIC can talk, it will tell RBI,”what are you doing brother (what are you doing brother?, Another user commented.

Here’s another meme of what LIC is thinking:

Another wrote, the rate hike was simply “out of course”.

RBI’s decision came one after the other unscheduled meeting The meeting of the Monetary Policy Committee (MPC) with the Central Board took place from May 2 to May 4. RBI Governor Shaktikanta Das said that this decision has been taken in view of rising inflation, high crude oil prices, global commodity shortage and geo-political tensions. Which has had an impact on the Indian economy.

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