RBI may not cut rates, CRR cut possible: HDFC

"The fact of the matter is that we do have a slowdown. There have to be ways for improving that slowdown. It can be improved partly by government action and partly if there were any difficulties on the financial side. So, the issue is that you need more money supply but, you need government action. The monetary policy cannot be the basic panacea for all ills," said Puri.

Though Puri rules out the possibility of a rate cut from RBI, he says CRR cut is possible. "I don't think with this inflation rate you can expect a rate cut," he opined.

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