MUMBAI (Reuters) - India's economy is currently positioned to reach Reserve Bank of India's 6 percent inflation target by January 2016, but there is a lot more confidence about reaching a near-term target of 8 percent by January next year, Governor Raghuram Rajan said after a policy review on Tuesday.
The RBI kept its key policy repo rate unchanged at 8.0 percent as widely expected, while expressing concerns about risks to its target to bring consumer inflation down to 6 percent by January 2016.
(Also read, what experts say about RBI's monetary policy, click http://in.reuters.com/article/2014/09/30/india-economy-rbi-rates-experts-idINKCN0HP0EJ20140930)
Turning to regulatory issues, Rajan said the central bank is in the process of modifying the definition of "wilful defaulters" so that company directors are culpable.
(Reporting by Mumbai Treasury Team; Editing by Subhranshu Sahu and Simon Cameron-Moore)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app