Kolkata: The Reserve Bank of India not only completed its widely expected rate cut hattrick but also delivered a jumbo cut of 50 basis points with governor Sanjay Malhotra saying that a sharply moderating retail inflation and a continued focus of growth has enabled the Monetary Policy Committee to take this step. The measure that was announced on Friday morning stoked expectation for continuous slashing of lending rates by banks and NBFCs on all sorts of loans for the consumer but also boosted hopes for adding momentum to the growth rates, boosting aggregate consumption and generation of employment for the policymakers.

“The Indian economy is progressing well on both the inflation and growth front,” remarked Malhotra. The focus was on domestic growth amid sustained external sector uncertainty said Malhotra indicating the geopolitical tensions and the flux in the global trade scenario. There is no tussle between........

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