Deputy governor Michael Patra also warned about the spillover effects of food inflation
The RBI MPC consists of six members: three from the RBI, including the governor, and three external members appointed by the government
Here is the best of Business Standard's opinion pieces for today
Red-flags top-up loans, credit card spends
Economic Survey had suggested exploring whether inflation targeting framework of the central bank should exclude food
Mr Das has set the record straight
This nudge comes amid sluggish deposit growth, which has led to a widening gap between credit and deposit growth
The RBI MPC on Thursday decided to keep its repo rate unchanged at 6.5 per cent for the ninth consecutive time, RBI Governor Shaktikanta Das announced
The RBI MPC has also decided to keep its stance of 'withdrawal of accommodation' unchanged with a majority of 4-2
With food inflation contributing over 75 per cent to headline inflation in May and June and making up 46 per cent of the CPI basket, vegetable prices accounted for 35 per cent of June's inflation
Cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours, says RBI Governor Shaktikanta Das