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Raghuram Rajan’s 2013 playbook: Why the RBI just pulled it out again

Posted on June 13, 2026
By Financial Express
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1 min read

Raghuram Rajan’s 2013 playbook: Why the RBI just pulled it out again

Faced with rising crude oil prices and global volatility, the RBI's June 2026 policy framework avoids interest rate hikes. Instead, it deploys wide-ranging FCNR(B) deposit subsidies and ECB swap facilities to attract up to $65 billion in foreign inflows.