An RBI rate hike may assuage nervous investors who have been pulling money out of Indian assets amid mounting bad loans and rising cases of frauds in the banking system. Photo: MintMumbai: India’s economic growth is picking up pace in an environment of rising price pressures, setting the stage for an RBI rate hike as early as next week. GDP growth accelerated to 7.7% in the quarter ended March 31, government data showed on Thursday, the fastest pace of any major economy. The RBI expects growth to hit 7.4% in the year to 31 March 2019 amid improved demand, broadly in line with the market consensus. As the world’s third-largest oil importer, India is also taking a knock because of rising crude prices.

Source: Mint June 01, 2018 05:48 UTC