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Kotak Mahindra Bank Chief Economist Bhardwaj on RBI Policy
This story was originally published at 11:48 IST on 8 April 2026
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MUMBAI - Upasna Bhardwaj, chief economist, Kotak Mahindra Bank, said the following on the Reserve Bank of India's first bi-monthly monetary policy statement for 2026-27 (Apr-Mar) detailed Wednesday:
The RBI expectedly kept rates and stance unchanged. After the circulars on restricting offshore speculative activity, the recent de-escalation on the geopolitical front has provided some relief to the rupee, providing room for the RBI to assess the lasting impact on growth-inflation and the persistence of the Balance of Payments deficit.
We expect the RBI to be squarely data-dependent henceforth, given the fluidity of the situation. Meanwhile, we expect the RBI to monitor liquidity conditions closely and possibly introduce variable rate reverse repos to ensure the overnight rates graduate higher between repo and Marginal Standing Facility rate. End
Compiled by Shubham Rana
Filed by Vandana Hingorani
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