Reserve Bank Governor Shaktikanta Das on Saturday said transmission of rate cuts is expected to improve further in the coming days and that momentum is gathering pace on credit growth.
Earlier this month, the central bank opted for a status quo on the benchmark interest rate, amid signs of hardening inflation and an uncertain global environment.
Transmission of rate cuts is slowly and steadily improving, Das told reporters after the RBI's board meeting here, adding that it is expected to improve further.
Finance Minister Nirmala Sitharaman also addressed the board of the central bank.
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