SBI Research in its report has called for stronger Reserve Bank of India intervention to stem the rupee’s sharp depreciation, arguing that the currency’s weakness is out of sync with the country’s macroeconomic fundamentals. In its pre-policy report released on Sunday, it said that the RBI is likely to maintain status quo amid heightened geopolitical uncertainty, rising crude oil prices and emerging inflationary pressures. The report projects consumer inflation above 5% over the next three quarters, while estimating FY27 GDP growth at 6.6%. The report’s central concern, however, is the rupee’s recent performance. It described the pace of depreciation as “reckless”, noting that the currency took just 152 days to weaken from 90 to 95 against the US dollar and touched a low of 96.83 on May 20.