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India: The RBI’s Dilemma
- India’s central bank (RBI) advanced cautiously in the direction of an expansionary policy stance. Caution is indeed nearly paralyzing the bank’s efforts to deal with the most pronounced slowdown (and the highest-recession risk) in years. To be sure, they approved a reduction of cash reserve requirements (CRR) that should increase bank liquidity, according to the central bank, by about 175 billion rupees.