India Ratings & Research (Ind-Ra) believes the Reserve Bank of India's (RBI) policy stance of maintaining status-quo on policy rates is the right step under the current macroeconomic environment. The agency does not expect any change in the policy rates in the near term. We believe besides looking for a predictable and sustained downward trajectory of inflation, the RBI will watch out for the fiscal stance of the new government before changing the rates...........
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