In policy making, you have to take a call beyond numbers: Shaktikanta Das

Numbers are paramount, what our assessment of the incoming data is, and how we see the incoming data, Das said

After the third bi-monthly monetary policy committee (MPC) meeting, Reserve Bank of India (RBI) Governor Shaktikanta Das and other senior officials spoke to the media on the rate cut, transmission of interest rates and non-banking finance companies (NBFCs). Edited excerpts.

Why did the MPC decide on a 35 basis points (bps) rate cut, which is unusual? 

Shaktikanta Das: There are precedents of advanced economies cutting rates by 10-15 bps. Given the evolving economic situation, and the assessment of MPC on growth, demand conditions, investment conditions, 25 bps cut was inadequate and 50 bps seemed a bit too much. So, a balanced