Zee Media Bureau
New Delhi: RBI Governor Raghuram Rajan on Wednesday said the central bank was yet to formally adopt the Consumer Price Index inflation as it was pending government's approval.
Stressing on the importance of growth, Rajan said the RBI was committed to strongest growth possible and that there was no difference with the Finance Ministry on this.
He also said inflation-targeting will have better impact though food is a major component of CPI.
Since taking over the rein of the central bank, Rajan has raised the policy rates three times by 0.75 percent despite economic growth falling to a decade low.
Amidst criticisms that he took the decisions against the interest of the public, the RBI Governor said the policy rates were appropriately set.
First Published: Wednesday, February 26, 2014, 19:10