RBI in wait-and-watch mode, no certainty on rate hike: Governor Sanjay Malhotra

RBI Governor Sanjay Malhotra indicated that a rate hike is premature as inflation has not broadly impacted consumer prices, keeping the central bank in a wait-and-watch mode. The RBI is closely tracking global uncertainties and monsoon progress while acknowledging that risks persist despite improved outlooks. Inflation forecasts have been revised upwards and growth forecasts downwards for the fiscal year.