RBI won't cut rate till gov't change policy-report

INDIA - The Reserve Bank of India is unlikely to cut the key bank rate unless the government implements some reforms on its policy on administered interest rates, ICICI Securities & Finance said Thursday 4 October.

ICICI Securities also said the Fiscal Responsibility Bill needs to be passed. This will make the government's fiscal management more transparent and accountable in parliament.

The government has yet to take a decision on a report that recommends the government links its fixed rates

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