Twitter Flooded With Memes After RBI Rate Hike Collides With LIC Mega-IPO Day — Check Hilarious Reactions

The collision of first repo rate hike after May 2020 and LIC IPO opening caught the attention of netizens who took to Twitter and turned a regular Wednesday into a "meme diwas".

(File Photos/ Getty)

New Delhi: The Reserve Bank of India (RBI) on Wednesday evening took the nation by surprise after an off-cycle meeting announcing a hike in its key lending rate by 40 basis points to 4.40 per cent. The unscheduled surge in repo rate took place almost after 2 years of accommodative stance with RBI Governor Shakikanta Das attributing the move to containing the ongoing inflation.

However, what surprised people even further was the fact that RBI's Monetary Policy Committee (MPC) meeting collided with Day 1 of the most-awaited LIC mega-IPO.

The collision of first repo rate hike after May 2020 and LIC IPO opening to raise Rs 21,000 crores caught the attention of netizens who took to Twitter and turned a regular Wednesday into a "meme diwas".

While many expressed dismay over RBI's decision to hike the repo rate on such a crucial day, creative heads of Twitter did not fail to disappoint.  

Check out these hilarious reactions that kept floating on Twitter throughout the day:

These two bullets collided in the battle of Gallipoli in 1915. The chances of this happening are 1 in a billion.

This is still more than me getting an IPO allotment.#LICIPO pic.twitter.com/iP8XKgCACn

— Finance Memes (@Qid_Memez) May 4, 2022

dear RBI, couldn’t you wait till LIC Listing - IPO investor

— Contrarian EPS (@contrarianEPS) May 4, 2022

LIC of India to RBI Governor after hike interest rate.#LICIPO pic.twitter.com/59pNllMXIM

— Vru$hang $ (@v2shah) May 4, 2022

LIC to RBI pic.twitter.com/exyPtnr7XY

— Deval Savla (@DevalSavla) May 4, 2022

RBI to LIC 😀 pic.twitter.com/Q4BBrvBHKr

— Vismaya (@Vismaya9999) May 4, 2022

Bloodbath in indian market ,RBI Policy Impact#lic #financememes #rbipolicy #stockmarket #memes #memes😂 #sharemarket #licipo pic.twitter.com/1bGsQnCFMv

— Mind Bulls (@MindBulls) May 4, 2022

LIC to RBI right now ....#ratehike #sentiment #IPO pic.twitter.com/GWDw6eauV2

— Ashwin Mohan (@ashwinmohansays) May 4, 2022

LIC Ipo to RBI after rate hike
I saved your bank so many times and this got in return pic.twitter.com/ebVTKG0TRt

— Durgesh Mishra (@mdurgesh_27) May 4, 2022

Lic to rbi right now:- pic.twitter.com/Z0rwg3pY79

— Mad king (@GJhamtani) May 4, 2022

Even the domestic benchmark indices BSE Sensex and NSE Nifty fell sharply during the late afternoon trade after the Reserve Bank increased the benchmark lending rate. This was the first such unscheduled move by the central bank since the start of the pandemic.