We have been mandated by the government, backed by legislation, that we have to have an inflation target of about 4%. — Urjit Patel Copy Share Image
Yes, 4% is the government-mandated target to the MPC. The plus/minus 2 percentage-point upper and lower bands are the tolerance levels specified… — 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
