RBI lowered inflation projections for the financial year 2019 Michael Patra lone voice for rate increase at April meeting The most hawkish member of India’s monetary policy panel is likely to get support from an influential colleague, signaling an interest rate increase is more probable than a cut. At the April 4-5 policy meeting, Deputy Governor Viral Acharya said there was a revival in investment activity and an improvement in capacity utilization, which boded well for the economy. As a...

Modi economic adviser criticizes central bank for focus on prices RBI and government have divergent views on interest rate policy Clashes between central banks and governments happen the world over. India is no different, yet the recent friction between the Reserve Bank of India and Prime Minister Narendra Modi’s government over a controversial rate call offers up a test case of central bank independence in this $2 trillion economy. Last October, the RBI led by Governor Urjit Patel adopted...