THE Reserve Bank of India (RBI) on Friday chose to stay the course on inflation control, refusing to make any knee-jerk reaction to the growth slump reported in the second quarter with a repo rate cut.
RBI's monetary policy committee (MPC) led by governor Shaktikanta Das decided to maintain the repo rate at 6.5% for the 11th time on the trot. The last time it changed the repo rateâthe interest rate at which RBI lends money to commercial banksâwas in February 2023, when it raised it by 25 basis points.
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A SLIPPERY SLOPE & SILENT EPIDEMIC
NOOP, a bright young man from Kottayam, had high hopes when he landed a job at a reputed IT company in Bengaluru through campus placement. Hailing from a middle-class family, his success was seen as a beacon of promise for his future. But within two years of joining the firm, Anoop found himself staring at a disheartening email from HRâhis dismissal owing to poor performance.
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