RBI’s action to transition to the revive phase has to be in tandem with the Union government
Last week, the Reserve Bank of India (RBI) changed gears. The central bank hit the pause bottom on rate cuts, but left no one in doubt that it is going to focus on reviving the economy from now on. At the same time, RBI maintained that it was aware of the build up of stress in the financial sector and assured everyone that it was on top of things (fingers crossed, given that every sign points to a crisis in the making).
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