Inflation is elevated compared to where we want it to be: Urjit Patel

Urjit Patel and top central bank officials spoke to the media after RBI's monetary policy review

After the Reserve Bank of India (RBI)’s first bimonthly monetary policy review for financial year 2017-18, Governor Urjit Patel and top central bank officials spoke to the media on its decision to hold the repo rate, the liquidity situation, stressed loans in the banking sector and other issues. Edited excerpts: 

On holding interest rates 

Urjit Patel: The Monetary Policy Committee (MPC) made a detailed assessment of macroeconomic and financial conditions, both domestically and globally. On the basis of its judgement and the evolving outlook, the MPC decided unanimously to keep the policy rate unchanged. The MPC also decided to preserve the neutral