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RBI springs surprise, keeps interest rates unchanged

Friday, October 5, 2018, 7:56 PM

RBI kept interest rates unchanged, surprising markets that had expected a rate hike to support tumbling rupee and combat inflationary pressures from high-oil-prices. With five of its six-members voting for a status quo, RBI’s MPC left repo rate at 6.50% and changed policy stance to ‘calibrated tightening’ from ‘neutral’, which RBI Governor Urjit-Patel said meant there would be no rate cut in the current-cycle.
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RBI unlikely to hike repo rate in October: Study

Friday, September 21, 2018, 7:25 PM

Weakness in the rupee does not offer a sufficient alibi for a rate hike and the Reserve Bank may go for a status quo at the policy review next month, a Japanese brokerage said today. "Because of the RBI's inflation-targeting mandate, currency weakness in itself may not provide a sufficiently strong argument for rate hikes," Nomura said in a report.
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Gujarat: In 26 minutes, lawmakers approve salary-hike for themselves

Thursday, September 20, 2018, 8:58 PM

On Wednesday, Gujarat lawmakers showed an unprecedented unity as they passed a bill after a debate which lasted 26 minutes. The bill, which didn't even exist on Tuesday, became a law. The fact that it gives lawmakers 60% hike in salary is possibly the biggest reason behind zero resistance. As opposed to Rs. 70,727/month, lawmakers will draw Rs. 1,16,316/month salary, including perks and allowances.

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