‘There Was A Need To Act’

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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