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Showing posts from October 4, 2015

Candid statement given by the Central Banker,

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The followings are the highlights of  Reserve Bank of India Governor Dr. Raghuram Govind Rajan's recent  interview to a channel


Central bankers have shown that they can be pragmatic, have to be pragmatic
We are dealing with scenarios that India hasn't seen before, economy is much more integrated today
You have to figure out what's right and do it, without relying on long traditions or without appealing to ideology
That's why labels are not very useful
There is time when you want to establish credentials for perhaps fighting inflation
But over time other factors come in. For example situation of global economy
Don't think I have silenced critics with 50 basis point cut, I don't think that was the aim
We were looking at the state of the economy and see what we can do best at particular moment, keeping in mind long-term objective of keeping inflation under control
We did what we thought was responsive to the state of the economy
Chorus of critics doesn't change, our act…