This refers to the editorial "Status quo, firmly" (April 2). The Reserve Bank of India (RBI) has done its best in the prevailing socio-economic conditions where the election code of conduct is in place. Economic fundamentals remain stagnant, except perhaps the current account deficit and a reducing trend in inflation. It is not certain how and in what shape the fiscal policy will be under the new government. By keeping policy rates unchanged and not succumbing to the pressures of the market, the RBI governor has played his cards well, and the suspense of the monetary policy remains intact.
T V Gopalakrishnan Bangalore
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