Today, if we take a poll of Indian industrialists on their expectations from the Reserve Bank of India’s (RBI’s) last bi-monthly policy for the 2019 fiscal year, 10 out of 10 will pitch for a rate cut. They are also rooting for a cut in the banks’ cash reserve ratio (CRR) — or the portion of deposits kept with the RBI — to release money into the system.
Indisposed finance minister Arun Jaitley too has asked for a rate cut, albeit indirectly — saying, India cannot have a real rate of interest that's higher than anywhere else in the world. The ...
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