RBI policy review: Two dissenters at August MPC meet

Here is a closer look at Michael Patra and Ravindra Dholakia's past views

Two members of the Monetary Policy Committee (MPC) dissented with the committee's decision to cut rates. While RBI Executive Director Michael Patra voted for status quo, IIM-Ahmedabad professor and external member of the MPC Ravindra Dholakia wanted a 50-basis point rate cut. Here is a closer look at their past views: 

August 2017

Michael Patra: Status quo

Ravindra Dholakia: Reiterated his June 2017 view on reduction by 50 bps

June 2017

Michael Patra:

* Wait and watch incoming data 

* Near-term inflation outlook admittedly benign. Yet, in a situation in which transitory and structural factors are meshed