Best of BS Opinion: RBI monetary policy, BJP's election campaign, and more

As widely expected, the monetary policy committee of the Reserve Bank of India decided to leave the policy rates unchanged on Thursday. However, the central bank made several policy interventions to improve transmission and incentivise the banking system to lend.
 
Business Standard Opinion pieces for the day talk about RBI’s decision and other issues related policy and politics
 
On balance, the set of policy interventions announced by the central bank on Thursday is intended to improve transmission and incentivise the banking system to lend. But whether these measures would improve lending remains to be seen, argues our lead editorial. Read here

 

It’s not a monetary policy; it’s a credit policy of a governor who is not shy of experimentation when the space for monetary easing is limited, writes Tamal Bandyopadhyay
 
The BJP’s mystique in recent years has been built on its desire for victory, and its ability to convince voters in the final weeks of a campaign. But this has now taken a dangerous turn, and is infecting national politics, notes our second editorial
 
India has reversed its long-held and multiparty position that Kashmir not be internationalised and that the world be kept out of our internal affairs, writes Aakar Patel

 

Quote of the day
 
“The long-term repo operations are not intended to replace the OMOs. The idea is to help banks reduce the cost of funds. It also gives some assurance of durable liquidity.”
 
RBI Deputy Governor Michael Patra