India, April 9 -- The RBI delivered a neutral-to-dovish policy as it chose to look through supply shock emanating from the ongoing energy crisis. The overall guidance is tilted towards "vigilance" given the elevated concerns around growth, and comfort on inflation. We believe the policy rates will remain on hold in 2026.

-Kaustubh Gupta, CIO (Fixed Income), Aditya Birla Sun Life

RBI continues to lay emphasis on keeping ample banking system liquidity to support economic activity. We expect that it will continue to conduct liquidity operations in a way that will keep overnight rates at the lower end of the policy corridor. While the positive development of temporary ceasefire in the West Asia war provides much needed relief across asset c...