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<h1>Monetary policy pause signals assessment of cumulative tightening while remaining ready to tighten further if warranted.</h1> The Reserve Bank signalled a pause, not a pivot, pausing rate hikes to assess the cumulative impact of prior tightening while remaining ready to act further; it prioritises price stability and progressive alignment of inflation toward the 4% target, manages liquidity through a multi year withdrawal framework with operations shifting toward repo, and maintains supervisory emphasis on multi scenario stress testing, uniform prudential requirements, provisioning guidance, and measured steps on payments reform including UPI operable pre sanctioned credit lines and rupee internationalisation.