Monetary Policy focused on improving rate transmission: RBI bosses

After the policy meet, RBI Governor Shaktikanta Das and deputy governors N S Vishwanathan, Michael Debabrata Patra, and B P Kanungo spoke to the media on several issues, including the introduction of LTRO and possibility of rate cuts going ahead. Das also clarified that at the moment there is no plan to monetise government deficit. Edited excerpts:

You have come up with LTROs of Rs 1 trillion and have exempted cash reserve ratio (CRR) for banks for incremental retail credit. Is this a kind of hidden interest rate cut?

Shaktikanta Das: Basically, it is an effort for better monetary policy