Mumbai: The Reserve Bank of India (RBI) is likely to leave the benchmark interest rate unchanged at its August monetary policy review despite elevated inflation, as strong foreign capital inflows have eased concerns over the rupee, giving the central bank room to continue with a neutral pause, according to a report.
Banks have reportedly mobilised nearly USD 32 billion, largely through FCNR(B) deposits, while government securities have attracted more than USD 7 billion in foreign inflows since the RBI announced measures to attract overseas capital last month, foreign brokerage Barclays said.
