D Subbarao

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RBI leaves rates unchanged but talks down expectations

The Reserve Bank of India left benchmark interest rates untouched in its quarterly credit policy statement, released today. That was as expected. But RBI Governor D. Subbarao, has made it clear that once clear signs of a recovery are evident, and if prices are ruling higher, the RBI will move swiftly to hike rates. At present, it is holding back pre-emptive action, to give room for consumers to borrow and buy and thereby generate demand for industries to grow. Continue Reading →

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