Will RBI change focus to growth after PM Narendra Modi's speech?

While the central bank has not hiked the repo rate for more than a year now, but it has refused to drop the guard on inflation even if core inflation has moderated

The Reserve Bank of India (RBI), which has focused on growth over inflation for almost two years now, may find it difficult to drop its guard on price rise even if Prime Minister Narendra Modi called for making growth a top priority.

“This decade will lead this institution to its centennial year. And this decade is equally important for India’s developmental journey. As your mantra is -- the RBI should give top priority to rapid growth while focusing equally on trust and stability,” Modi said on Monday at an event to commemorate 90 years of the RBI.

His comment comes