June 6, 2018 / 9:55 AM / 12 days ago

RBI says it will remain cautious to manage growth, inflation

MUMBAI (Reuters) - The Reserve Bank of India (RBI) will remain cautious and vigilant on managing the risks to growth and inflation in Asia’s third-biggest economy, its chief Urijit Patel told reporters on Wednesday after the monetary policy meeting.

FILE PHOTO: A security personnel member stands guard at the entrance of the Reserve Bank of India (RBI) headquarters in Mumbai, August 2, 2017. REUTERS/Shailesh Andrade/File Photo

The central bank raised its policy rate for the first time in more than four years, due to inflation concerns, but kept its policy stance as “neutral”.

On managing liquidity, Viral Acharya, a deputy central bank governor, said that the Reserve Bank of India will use appropriate instruments to manage liquidity as the surplus is likely to dip later this month.

Reporting by Sankalp Phartiyal; Editing by Richard Borsuk

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