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Below is Quote RBI MPC By Sunil Damania, Chief Investment Officer, MarketsMojo

The Reserve Bank of India (RBI) has made a prudent decision to pause the rate hike, considering the uncertainty prevailing in the global financial market and the potential challenges that may arise for India's growth due to the lack of clarity on the El-Nino phenomenon. The RBI's decision to take a pause is aimed at supporting growth in the economy. 

While the Governor of the RBI has indicated that the pause in the rate hike is applicable only for this meeting, the central bank remains highly vigilant about the growth in the economy and will assess the situation carefully before taking any future rate hikes. In these uncertain times, the RBI recognizes that another rate hike could potentially hamper the growth momentum of the economy. 

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