September 20: Surprised by the RBI’s move to hike repo rates and cut MSF, Aditya Birla Group’s D.D. Rathi says we must look more at reforms needed. Kotak Mahindra Bank’s Shanti Ekambaram sees it more as a rollback in MSF than a repo rate hike. “RBI has narrowed the corridor by 100 bps and effectively reduced the rate markets were borrowing at,” she adds. Advent Advisors’ K.R. Bharat says this policy was more about tone and knowing which way RBI would tilt than about rates.