Marginal change needed: Montek

The Reserve Bank should marginally adjust its monetary policy, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, told reporters in New Delhi on Tuesday. He also said RBI’s monetary steps would not hurt growth.

The Reserve Bank should marginally adjust its monetary policy, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, told reporters in New Delhi on Tuesday. He also said RBI’s monetary steps would not hurt growth.

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The Reserve Bank of India is widely expected to raise rates by another 25 basis points at its policy review on July 27, after it surprised markets early this month by raising policy rates by a quarter point.