Cannot focus on inflation only - Subbarao

The Reserve Bank of India (RBI) governor Duvvuri Subbarao said on Saturday that the bank could not just focus on inflation given growth concerns.

The Reserve Bank of India (RBI) governor Duvvuri Subbarao said on Saturday that the bank could not just focus on inflation given growth concerns.

HT Image

Subbarao also said that the large government borrowing influences monetary policy.

At its policy review on January 29, the RBI raised banks' cash reserve requirements by 75 basis points to 5.75 percent but left benchmark lending and borrowing rates unchanged at 4.75 percent and 3.25 percent respectively.