The minutes indicated increased optimism among participants about the path of inflation, noting “clear progress.” The committee expressed a willingness to cut the benchmark lending rate in 2024 should that trend continue, though the timing of such a move remained uncertain.
RBI to drain Rs 1 lakh crore as VRRR auctions fail to absorb liquidity
The Reserve Bank of India will drain Rs 1 lakh crore through bond sales this month after VRRR auctions failed to absorb excess liquidity. The