View: The RBI’s next policy meet should focus on non-interest rate mechanisms

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Over the next three days, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will meet for what would ordinarily have been the last meeting of the present MPC. Except that there’s nothing remotely ordinary about the present. So, even though the term of the three external members ends in September 2020 and, under the RBI Act, 1934, ‘members shall not be eligible for reappointment,’ chances are they will get a fresh lease of

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