March 21, 2014 / 6:59 AM / 3 years ago

RBI chief says haven't moved to targeting inflation

Reserve Bank of India (RBI) Governor Raghuram Rajan attends a joint news conference with India's Finance Minister Palaniappan Chidambaram (not pictured) in New Delhi March 7, 2014.Adnan Abidi/Files

MUMBAI (Reuters) - Reserve Bank of India Governor Raghuram Rajan said on Friday the central bank has not yet moved to an inflation target, and was still exploring the suggestions on the subject drafted by a panel with the government.

A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target, with an aim to eventually bring down consumer-price based inflation to 4 percent with a 2 percent band on either side.

"We haven't moved to inflation targeting as yet," Rajan said at an event in Mumbai.

Reporting by Neha Dasgupta

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