I had L2 round on monday.I dropped an email on the next day to the RM who scheduled my interview.He replied "Still working on it,HR will update you soon".Does it mean second round is cleared?

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You are not the single one who had been interviewed. Recruiter and hiring manager shortlist at least 3-4 candidate with rating and untill they succeeded to conclude the negotiations with P1 candidate they keep other candidates as stand by for discussion.

So wish u the best and hope you will be getting call soon.

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