Reserve Bank will go for another rate cut

Shaktikanta Das will join the gang of dovish-pivoting global central bankers to address the growth pangs in the Indian economy

At the Mumbai launch of former Reserve Bank of India (RBI) governor Y V Reddy’s latest book Indian Fiscal Federalism (co-authored by G R Reddy), Governor Shaktikanta Das referred to Reddy’s tenure as “continuity and change… mixed together appropriately” — something which Reddy himself had said on assuming office in September 2003.

When Reddy’s turn came at the launch function, he spoke about the change in the approach of the new governor too. For the record, in his five-year tenure, Reddy had never cut interest rate even once but Das cut the rate at his very first monetary policy meeting.