Raghuram Rajan, governor of Reserve Bank of India has refused to entertain media queries. While talking to press during announcement of second bi-monthly policy review, Rajan said “it will be cruel to spoil the fun”. Rajan’s three year term is about to end on September 4.
RBI has maintained status quo on interest rate at 6.5 per cent
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Economic growth at 7.6 per cent
Retail inflation target at 5 per cent for January 2017
The reverse repo rate also stayed unchanged at 6 per cent and the cash reserve ratio of scheduled banks also remains unchanged at 4.0 per cent.
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