RBI again goes under pressure


RBI under pressure again to cut interest rate and boost liquidity. Despite the central bank's two interest-rate cuts this year, borrowing costs in the economy aren't coming down fast enough. Liquidity has also dried up in recent months as demand for cash picked up ahead of India's six-week election. Not only by lowering interest rates, but also by adjusting its monetary stance to an accommodative one and injecting more liquidity into the financial system.


Constrained by a widening budget deficit, Prime Minister Narendra Modi — who was sworn into office for a second term last week may increasingly look to the Reserve Bank of India for help in spurring lending and growth. Inflation has also been relatively benign, well below the bank's 4% medium-term target, giving policy makers ample room to ease.


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