.....So everyone thought that a softer interest regime has finally ushered in, from a corporate CEO who wants to start a new project to a salary earner to pays his or her home loan in EMIs. They were expecting it for the last 15 months when RBI reduced the policy rate for the first time in three and half years, in April 2012. This time, they thought, the downward cycle is here to stay for a while. But RBI Governor Duvvuri Subbarao, thought otherwise.........
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