RBI’s Record Surplus Transfer May Not Be Used For Fiscal Stimulus, Say Brokerages
An Indian 500 rupee, bottom, and a 2,000 rupee banknotes are arranged for a photograph in Thailand. (Photographer: Brent Lewin/Bloomberg)

RBI’s Record Surplus Transfer May Not Be Used For Fiscal Stimulus, Say Brokerages

The Reserve Bank of India’s record transfer of a surplus to the government is unlikely to result in a fiscal stimulus, against expectations, as India strives to meet fiscal deficit target for 2019-...
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