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The stance is exactly where it should be: RBI

RBI governor and deputy governor on RBI rate cut policy

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L to R - Deputy Governors BP Kanungo, M D, Patra, ED, RBI, Deputy Governors N S Vishwanathan, RBI Governor Urjit Patel and Viral Acharya during a press conference announcing the RBI's monetary policy in Mumbai | Photo: Kamlesh Pednekar

BS Reporter

Last Updated : Aug 03 2017 | 1:13 AM IST

After the Reserve bank of India’s (RBI’s) decision to reduce the repo rate by 25 basis points, Governor Urjit Patel and senior colleagues spoke to the media on the Monetary Policy Committee’s (MPC's) decision to maintain a neutral stance, the need for better transmission and other key issues. Edited excerpts:

There has been a liquidity overhang in the banking system for quite some time. In addition, inflation rates could also rise in the coming months. Do you think there was a need to cut rates now?

Urjit Patel: We have been facing the challenge of liquidity overhang for quite

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