Economists remain divided on the Reserve Bank's decision to defer a rate action until January. Dr Surjit Bhalla, chairman of O(x)us investments, says that RBI should have begun cutting rates a long time ago. On the other hand, Dr Arvind Virmani, former chief economic advisor, says that while a rate cut may not do much to improve growth, it would have definitely fanned inflation. Meanwhile, Sanjeev Sanyal of Deutsche Bank, adds that the decision to hold off rate cuts is not surprising.
