Despite fall, GDP will bounce back sharply: Urjit Patel

“The best way that central bank can support growth on a durable basis is to ensure inflation is low, stable, there is financial stability and that is the role the central bank plays. Very few countries grow at high growth rate if inflation is high and volatile. So, I think we are doing our bit to support higher growth rate, but on a durable basis,” he said.

The RBI Governor expressed concern over the US moving towards protectionism under Trump.

“I think it is a cause of concern for the world, I think it is a cause of concern for the emerging markets in terms of creating financial volatility. I don’t think anyone will be safeguarded from it. We have to manage this as it plays out,” he said.

From Agencies, Featured image courtesy indianexpress