The Reserve Bank of India has said that it could take more steps in its annual review in April to contain inflation which is nearing the double digit mark. Briefing the media on the apex bank's Financial Stability Report, RBI Deputy Governor Shyamala Gopinath said that the immediate challenge for the Indian economy and the financial sector is to reclaim the pre-crisis configuration with minimal efficiency loss and contain overall inflation.On monetary policy, Mrs Gopinath said the primary objective of is to ensure price stability in the system. She added that inflation, which has already surpassed RBI's projections of 8.5 per cent could escalate further. Inflation rose to 9.89 per cent in February from 8.56 per cent in the previous month. Food inflation, which is a component of general inflation, however, eased marginally to 16.22 per cent for theweek ended March 13 from 16.30 per cent in the preceding week.
News On AIR | March 26, 2010 8:19 AM
RBI to take more steps to contain inflation