High inflation and the fear that inflationary expectations will get entrenched required policy action, said banker Uday Kotak on the sidelines of Kotak Mahindra Bank’s quarterly earnings announcement. “There was a need to act,” Kotak said responding to a question on the Reserve Bank of India’s surprise rate hike.Kotak cautioned that more may follow if real interest rates, which adjust for inflation, are to be positive. At present, in …
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