....As far as RBI is concerned, looking at all the inflation data and all the facts, it needs to act to control the inflation but interest rate hike may not be something which will have the desired effect. This is because if you look into the banking system you will find that the deposit growth rates are higher than the credit growth rate. Also, the FCNR deposit that has come into the country has resulted in huge amount of liquidity with the banks and so, the rate hike may not be transmitted...........
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