Rajan sided with the consensus, minutes show
RBI governor cuts rates in line with views of external advisers
The governor of the Reserve Bank of India (RBI), Raghuram Rajan, sided with the majority view of the bank's external advisory body for monetary policy at its April 5 meeting, agreeing to cut the repo rate, minutes released on April 28 reveal.
Five external members, four deputy governors and the governor make up the policy committee, though the final decision falls to the governor alone. Four of the five external members recommended a reduction in the repo rate.
Two of the external members
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