The two important variables for the policy formulation are projected inflation and the output gap. There is no clear hidebound mathematics that we must give 'X' weight to inflation and 'Y' weight to growth and form the associated policy. — Urjit Patel Copy Share Image
There will always be divergence of views on the output gap, as it is unobservable in a rigorous direct sense. There are only estimates. How can there be a strong consensus on that? — Urjit Patel Copy Share Image
Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate. — Urjit Patel Copy Share Image
One of the things that the public sector banks need to do is to raise private capital from the market and not rely on… — Urjit Patel Copy Share Image
As many have pointed out, it is not clear that we need so many public sector banks. The system could be better off if… — Urjit Patel Copy Share Image
Valid criticism is something that we are open for, and we take it in the spirit in which it is given and try to… — Urjit Patel Copy Share Image
I think India's policy that the openness of trade should be carried through a multilateral process is the right one. — Urjit Patel Copy Share Image
The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is… — Urjit Patel Copy Share Image
It is important to recognise near- and medium-term risks to the inflation outlook. — Urjit Patel Copy Share Image
There is little room for complacency, and it is important to guard against sporadic volatility in financial markets. — Urjit Patel Copy Share Image
Large credit guarantees also impede optimal allocation of financial resources and increase moral hazard. — Urjit Patel Copy Share Image
Very few countries grow at high rate if inflation is high and volatile. I think, in a way, we are doing our bit to… — Urjit Patel Copy Share Image
I think that it is important that one grows a thick skin fast in this business, and I think we have done that. — Urjit Patel Copy Share Image
Remonetisation has happened at a fast pace, and that was part of the plan that, subsequent to the withdrawal of the specified bank notes,… — Urjit Patel Copy Share Image
