Mridul Saggar is a Professor and Head of Centre for Macroeconomics, Banking & Finance at IIM Kozhikode. He was formerly RBI Executive Director and a member of its Monetary Policy Committee and Financial Market Committee.
After intense depreciation pressure, RBI succeeded in stabilizing the rupee exchange rate by taking capital flow measures in its June policy. This opened the possibility for RBI prioritizing inflation targeting in today’s policy to create space for rate cuts to deal with future shocks but RBI missed the opportunity to do so and bulwark its credibility.
Mridul Saggar
August 5, 2026 at 3:43 PM IST
As geopolitical shocks cloud the outlook, the RBI leans on caution, keeping policy steady for now, while keeping options open.
April 9, 2026 at 11:55 AM IST
iStock.com
India’s Goldilocks moment looks enticing, yet surging growth and vanishing inflation signal a fragile equilibrium, a lull before the storm.
December 10, 2025 at 10:03 AM IST
Poonam Gupta