News > RBI’s rate dissenter says officials too focused on inflation

RBI’s rate dissenter says officials too focused on inflation

The only member of the RBI’s policy committee calling for an interest rate cut said his colleagues are keeping rates too high, which could stifle economic growth. Jayanth Varma, an external member on the six-person monetary policy committee, voted for a quarter-point cut at the Feb 8 policy meeting, the first time in a year that he’s dissented from the rest. The committee led by Governor Shaktikanta Das opted to keep rates unchanged at the meeting.