RBI is getting it wrong

The RBI’s July 30 Monetary Policy Review has maintained a predictable ‘status quo’. This ‘status quo’ comes after the RBI had already ‘reviewed’ its policy twice earlier this month and imposed a series of ‘indirect’ liquidity tightening measures. The RBI has further clarified its stance as one of ‘active liquidity management...consistent with the growth-inflation balance and macro-financial stability’.

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