MUMBAI, April 25 All members of the Indian
central bank's monetary policy technical advisory committee
recommended that Governor Raghuram Rajan keep interest rates
unchanged at its policy review on April 1, according to minutes
out on Friday.
That was ultimately the decision taken by Rajan, as the
Reserve Bank of India kept the policy repo rate at
8 percent this month because of easing consumer inflation. The
decision was in line with market expectations.
In India, the central bank governor decides on monetary
policy, while the technical advisory committee serves as a
Most members also recommended that RBI should focus on
building up forex reserves to manage capital outflow risks, the
minutes showed, while one member of the committee was in favour
of lowering the banks' statutory liquidity ratio to 22 percent
from 23 percent.
(Reporting by Suvashree Dey Choudhury and Neha Dasgupta;
Editing by Rafael Nam)