We are in a neutral state...possibility either way, any ways cannot be ruled out that low rates (would) continue for a long time. Structurally, long-term, macroeconomic fundamentals, because of various measures which the government has taken, which the RBI has taken, which various institutions have taken, remain very strong and continue to drive growth on the one hand and at the same time keep price pressures contained. So, it’s quite possible that even in the short to medium term, we will continue to have low rates

The ceasefire, to some extent, has been taken into account. The whole implications (will come later), but the ceasefire has been taken into account in the monetary policy decision

-Sanjay Malhotra, RBI Governor