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Why RBI should have cut rates

Why RBI should have cut rates
A cut in rates would have encouraged the banks to lend aggressively on the retail front. There was enough justification for the Reserve Bank of India (RBI) to cut the benchmark lending rates, feels former secretary of the Department of Economic Affairs in the Union government, Shaktikanta Das. In a freewheeling discussion with Business Standard, a day after the RBI decided to hold the rates, he said: “the conditions are definitely very favourable for a reduction of interest rates”.
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