RBI Governor Shaktikanta Das’s confidence in India’s insulation from global trends remains steadfast. In his last monetary policy review for FY21-22, Das chose to prioritise growth over inflation, belying expectations of an increase in policy rates due to high oil prices, inflation and increased government borrowings. The repo rate and reverse repo rate currently are at 4 per cent and 3.35 per cent, respectively. Bond yields are expected to remain steady as they have already jumped up on the back of increased government borrowing and expectations of rate reversal. The governor also projected real GDP growth at 7.8 per cent for FY23.