..........I would also expect the RBI to raise repo rate atleast once, further by 25 bps. So you would have reduced the spread between the MSF rate and the repo rate by 100 bps and you can say that the monetary policy framework has been re-normalised at around the conditions it would normally set in. In terms of making the repo rate then the operational rate, you will most likely have to make some adjustments to liquidity, make available to help facilitate that. So, those are the broad trends I would expect over the next couple of months..............
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