The Reserve Bank of India’s Monetary Policy Committee (MPC) is in its final day of deliberations, with Governor Sanjay Malhotra set to announce the outcome tomorrow. Markets are eagerly watching whether the RBI will deliver a festive rate cut or hold steady amid global uncertainties, GST cuts, and muted private investment. In this conversation, Indranil Pan, Chief Economist at Guest Bank, shares his views on the growth-inflation balance, the potential impact of GST on consumption and prices, and the RBI’s draft proposals to ease lending norms, offer more flexible loans, expand gold-backed credit, and provide banks with easier fundraising avenues. We also discuss what a hold decision could mean for bond yields, market sentiment, and the RBI’s forward guidance as India navigates its complex

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