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Sunday, May 22, 2022

The Reserve Bank of India (RBI) is committed to its mandate to keep prices stabile while keeping its growth objective, deputy governor in charge of monetary policy, Michael Patra, said in a memorial lecture on Friday. The central bank had cut its key lending rate to a record low of 4% in response to the pandemic and has kept it there since May 2020 but concerns over the need for policy normalisation have been growing in recent months with inflation edging higher.

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