MUMBAI: Minutes of RBI's technical advisory committee's meeting on July 20, ahead of the monetary policy review, reveals that governor D.Subbarao went against the majority opinion to raise repo and reverse repo rates by 50 basis points each. All but one panel members had favoured a pause in monetary tightening. Even the one who suggested a hike was in favour of a 25 basis points rise in the repo rate. Among those who submitted their written views were Subir Gokarn, K C Chakrabarty, H R Khan, Shankar Acharya, Y H Malegam, Sanjay Labroo, A. Vasudevan and Prof Sudipto Mundle, Dilip M. Nachane and Samir K. Barua.
TOI
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