The RBI left rates on hold as expected this week, but much of the discussion at the press conference was on its clamp down on the activities of Paytm Payments Bank. We don’t think this is a major macro concern given India’s well-developed digital payments infrastructure that allows individuals to easily switch between payments apps. There are signs of this happening already.
Next week's main release is the CPI data for January. Clients can track local inflation dynamics in our new, interactive Inside India Inflation dashboard.
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