From fiscal health to monetary policy: Everything Jaitley, Urjit Patel said

FM Jaitley said there was now an increased reliance on the bond market as far as credit was concerned

RBI Governor Urjit Patel on Saturday said the monetary policy decisions need to be "forward-looking" and cannot be taken on the basis of day-to-day inflation rates. 

Stating that it is difficult to predict global oil prices, Patel said the global charts have shown two-way movement in the recent days and there is a need to be prepared for both the scenarios of rising and falling rates.

Speaking to reporters after Finance Minister Arun Jaitley's customary post-Budget address to RBI's board, the governor also exuded confidence about improving credit growth and the encouraging trend of companies being able to raise a fair amount