MPC minutes: Several risks to projected inflation trajectory, says Patel

Food inflation, led by vegetables, remains highly variable and there are several risks to projected inflation trajectory, said RBI chief Urjit Patel during the December Monetary Policy Committee meeting.

Deputy governor Viral Acharya said headline inflation will most likely cross 4% rather soon and remain above target in medium term, MPC minutes revealed.

Acharya also said that there seems little scope for accommodation or for change of stance at the present juncture. 

MPC member Chetan Ghate said uncertainty because of geopolitical events could push up the price of crude higher. 

"The conquest of Indian inflation is certainly not a done