Why the minutes of RBI’s rate-setting committee meeting hint at a course correction
The minutes of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting held earlier this month were eagerly awaited for two reasons. One, for the first time in RBI governor Sanjay Malhotra’s term, the MPC voted for a hike in policy rates. Two, after a long time, the opinions of members differed on the policy stance.
