The Reserve Bank of India (RBI) kept the rates unchanged in its August monetary policy review. This was the last policy address by the current RBI governor, Raghuram Rajan. The governor also said that from here on, monetary policy-related decisions should be through the Monetary Policy Committee (MPC) rather than just one person, the governor. The framework of this committee is already in place, he said.
This month’s policy review was more about ironing out the creases rather than announcing any change.
