RBI MPC minutes reveal 2 members opposed shift from neutral stance to calibrated tightening in October meeting
In the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting, two members opposed shifting from a neutral stance to calibrated tightening. Dr. Nagesh Kumar and Prof. Ram Singh supported a 25 basis point repo rate hike but preferred maintaining a neutral stance due to geopolitical uncertainties. Future rate hikes may be influenced by inflation, with CPI projected to exceed 5%.