.............RBI Governor D. Subbarao has defied two successive finance ministers, Pranab Mukherjee and P. Chidambaram, both of whom wanted an interest rate cut in 2012. There are now expectations he may finally relent in January 2013 when RBI announces its next review of monetary policy. The January cut, if it happens, will be a minor one. RBI will have to follow that with several cuts throughout the year if private investment has to be revived.....
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