Many tools available to manage economy - RBI
MUMBAI (Reuters) - The Reserve Bank of India has a number of policy instruments besides interest rates to manage the economy and was ready to use all these tools, Governor Duvvuri Subbarao said after the Reserve Bank cut key rates on Tuesday.
"We will respond with appropriate policy as is demanded by the economic situation," Subbarao told a media conference.
"I would not like to restrict myself just to policy rate cuts, there are a number of instruments available with the Reserve Bank and we will use all those instruments to manage the economic situation," he said.
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