The RBI Governor Dr. D.Subbha Rao has said that RBI will do everything possible to reign in inflation and spur growth. He was speaking to reporters after Board meeting in Puducherry this evening, Welcoming the government's decision to allow FDI in retail, Dr subba Rao said the step will ensure lower prices and better quality of goods for consumers even as farmers will get better prices for their produce.Expressing concern over 7.5 per cent inflation, he said the figure is above the comfort level for the RBI. He said this issue will be addressed when the October 30th monetary policy of the Apex bank is unveiled.Referring to certain external and local agencies forecasting a 5.5 percent growth in the present fiscal, he said the RBI stands by the 6.5 per cent growth projected in July this year.On the appreciation of the rupee against the dollar, he said as a matter of policy, the RBI intervenes only when there is volatility in the market.Replying to a question, Mr Subba Rao said the RBI will soon launch a pilot project to introduce polymer notes but refused to give a time frame for its launch. .