RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm
RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth.
Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
Sanjay Malhotra, another civil servant, was named as Das' successor barely 24-hour before the latter's second three-year term came to an end.
The Reserve Bank of India (RBI) under Das kept interest rates unchanged for almost two years even when economic growth slipped to a seven-quarter low in July-September quarter of the current fiscal.
With the new governor at helm, and a growing dissent within the rate-setting panel in favour of a rate cut, all eyes are now at the next review of the RBI's monetary policy in February, and specifically the decision on rates.
Web Development
Django & PostgreSQL Mastery: Build Professional Web Applications
By — Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Modern Marketing Masterclass by Seth Godin
By — Seth Godin, Former dot com Business Executive and Best Selling Author
Artificial Intelligence(AI)
Learn InVideo AI: Create Videos from Text Easily
By — Prince Patni, Software Developer (BI, Data
