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Looking At RBI Move Positively: Jayesh Mehta

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September 20: BofA-Merrill Lynch’s Jayesh Mehta says the RBI move is more or less on expected lines. “As long as MSF rate is higher and there is a cap on LAF, the MSF will be the operative rate; today’s RBI decision looks to change that,” he says. The idea is to reduce MSF and hike policy rate by 25 bps to make repo rate the operative level again, he adds.