MUMBAI (Reuters) - The Reserve Bank of India will aim for a real interest rate of 1.5 percent to 2 percent over the long-term, Governor Raghuram Rajan said on Tuesday.
The central bank would gradually move towards a new monetary policy structure next year, he said. The government is expected to amend the RBI Act by early next year to incorporate a monetary policy committee that gives voting rights to officials both within and outside the central bank.
The comments come after the RBI kept the repo rate on hold at 8.00 percent on Tuesday.
(Reporting by Suvashree Dey Choudhury and Neha Dasgupta; Writing by Swati Bhat; Editing by Sunil Nair)
