The Reserve Bank of India (RBI), under its new governor Shaktikanta Das, seems to be heading for a ‘course correction’ after the acrimonious war of words with the government just a couple of months ago, when Urjit Patel was at the helm.
With general elections round the corner, the central bank’s monetary policy committee, on February 7, decided to ease interest rates by 25 basis points, in the hope of driving growth, even as inflation fell on the back of low food prices. This was a significant departure from the RBI under Patel, which took a conservative line to keep inflation at the targeted 4 per cent. Das, a career diplomat, was the face of the government during demonetisation in his capacity as then economic affairs secretary, and was widely expected to toe the government line on the monetary policy.
Esta historia es de la edición February 25, 2019 de India Today.
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