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RBI chief defies calls for lower rates amid currency overhaul

Economists see decision as an unexpected but wise move before US reviews policy next week

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Mr Patel has been under fire from a powerful bank union, which called for his resignation citing poor execution of the currency clampdown.

Mumbai

SPARE a thought for governor Urjit Patel.

Handpicked by Prime Minister Narendra Modi to lead India's central bank after relations soured with his outspoken predecessor, Raghuram Rajan, Mr Patel and his monetary panel on Wednesday shrugged off his boss by keeping interest

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