Implementation of RBI panel recommendations needs talks with govt: Rajan

MUMBAI Tue Jan 28, 2014 12:51pm IST

Reserve Bank of India (RBI) Governor Raghuram Rajan speaks during a news conference after the mid-quarter monetary policy review at the RBI headquarters in Mumbai December 18, 2013. REUTERS/Danish Siddiqui/Files

Reserve Bank of India (RBI) Governor Raghuram Rajan speaks during a news conference after the mid-quarter monetary policy review at the RBI headquarters in Mumbai December 18, 2013.

Credit: Reuters/Danish Siddiqui/Files

Related Topics

MUMBAI (Reuters) - India's central bank is studying the recommendations of a panel on monetary policy and complete implementation of its report will need a dialogue with the government, the Reserve Bank of India governor said on Tuesday.

Raghuram Rajan also said the Urjit Patel panel's timeline to bring down retail inflation seemed "reasonable" and the 8 percent retail inflation target can be reached by the end of the year.

He also said he was confident that inflation would be brought down to tolerable levels within the course of the year.

Rajan said the RBI has not accepted inflation targeting as a monetary policy objective, after unexpectedly raising rates by 25 basis points earlier in the day.

(Reporting by Suvashree Dey Choudhury and Mumbai Treasury Team; Writing by Swati Bhat; Editing by Prateek Chatterjee)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Pharma

REUTERS SHOWCASE

Modi's U.S. Trip

Modi's U.S. Trip

PM Modi to get rock star reception in New York.  Full Article 

Northeast Floods

Northeast Floods

Landslides and floods kill 22 in northeast India.  Full Article 

Food Subsidy

Food Subsidy

Ram Vilas Paswan says no plans to raise food handouts.  Full Article 

Importing Iron Ore

Importing Iron Ore

JSW Steel to import 10 mln T of iron ore due to local shortage.  Full Article 

End of Monsoon

End of Monsoon

Monsoon starts withdrawing from northwest region.  Full Article 

Breaking Up

Breaking Up

Philips to split off lighting business, form separate company.  Full Article 

Bumper Sales

Bumper Sales

Apple sells more than 10 mln new iPhones in first three days  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage