Identify the reason of RBI's steady policy rate throughout FY24 to contribute to the overall economic stability of India?
1
By directly increasing foreign exchange reserves through higher interest rates.
2
By ensuring stable borrowing costs, thus maintaining controlled inflation and supporting growth.
3
By reducing the fiscal deficit through enhanced government revenue.
4
By promoting aggressive lending practices among non-banking financial companies (NBFCs).
5
By encouraging higher consumer spending through reduced savings rates.