Don't cheer for rate cuts! Banks have only transmitted 0.6 per cent of 2.25 per cent repo cut by RBI, choking up the economy
Such defiance is unprecedented. But FinMin and the RBI are playing wink-wink in the name of institutional independence. Hey, haven't we heard that before!
New Delhi Last Updated: June 6, 2019 | 18:24 IST
It was January, 2014, when the RBI reversed the trend in repo rates by moving from rate hikes to rate cuts.