The Monetary Policy Committee has so far remained on a growth-supportive stance to guard the economy from the ill-effects of the COVID-19 pandemic.
A status quo that shocked the market but a change in stance has reasons to cheer
It is unlikely that there will be rate hikes in a hurry because the focus is also on getting growth back, Uday Kotak, Managing Director, Kotak Mahindra Bank.
"The MPC is dedicated to achieve the 4 percent headline CPI inflation target while keeping in mind the objectives of growth," Governor Urjit Patel told reporters in the customary post-policy presser.