Priority should be restoring inflation-growth balance

Policy priority should be on restoring the inflation-growth balance, said Shaktikanta Das, former Reserve Bank governor, while voting for a status quo on the short-term lending rate at his last MPC meet earlier this month.

- OUR CORRESPONDENT

MUMBAI:

Das, and three other members of the rate-setting panel—Monetary Policy Committee—voted in favour of keeping the repo rate at 6.25 per cent, while the other two members favoured reduction in the rate.

In its December bimonthly monetary policy, the Reserve Bank of India (RBI) kept the repo rate unchanged but cut the cash reserve ratio that banks are required to park with the central bank, as it did.