The Reserve Bank of India’s 6-member monetary poli... moreThe Reserve Bank of India’s 6-member monetary policy committee is expected to vote for a pause on policy rates on Thursday. The pause on policy rates could be extended as inflation has risen recently. The Budget’s limited measures to boost growth could aid RBI and the commitment to fiscal prudence augurs well for monetary policy. However, the government’s over reliance on national small savings fund to finance the deficit could keep pressure on interest rates and prevent fall in deposit rates.
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