Blame it on oil | Business Standard Column

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The crude shock can turn into a nightmare for both the government and the RBI

TopicsOil Prices | BS Opinion | RBI

In its February policy, announced a few days after the Union Budget, Indian central bank’s rate-setting body left the repo rate (the rate at which the Reserve Bank of India [RBI] infuses liquidity into the system) and the reverse repo rate (the rate at which it sucks liquidity out) unchanged at 4 per cent and 3.35 per cent, respectively. He also committed to continue with the accommodative stance “as long as necessary to revive and sustain growth on a durable basis”.

The RBI decoupled India’s monetary policy from that of the developed markets. While both the US…

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First Published: Sun, March 13 2022. 22:52 IST

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