The finance ministry wants the Reserve Bank of India (RBI) to switch its policy stance, with growth concerns occupying centre stage and inflation showing signs of moderating. A ministry official said monetary tightening had hurt growth and the central bank should have paused earlier than December 2011. The RBI should cut policy rates to give a push to rate-sensitive sectors, the official added. While bankers are not expecting a repo rate cut at the policy meet on January 24, the ministry thinks it would be needed to spur investment and growth……..
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