Mumbai, Nov 2 (PTI) RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank’s handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens.
Acknowledging that the inflation target has been missed, Das said the RBI decided to support the economy by not introducing a rate hike in face of a spike in inflation.
“We prevented a ‘complete collapse of the economy’ by keeping rates lower and stayed away from premature tightening,” Das said speaking at the annual FIBAC conference of bankers here.
