Hope India will continue to prioritise low inflation: Raghuram Rajan

TIL Desk/Business/New York-Former RBI Governor Raghuram Rajan, whose tenure at the central bank ended this month, hopes the process of cleaning up banks in the country will be finished and government will continue to prioritise “low inflation”, even as he warned against low interest rates globally.

Rajan, who stepped down on September 4 as India’s top central banker, said in an interview that he hoped the country would finish “the process of bank cleanup which is underway.”

He also noted that his tight monetary policy has helped in bringing India’s rate of inflation — currently about 6 per cent — down to the upper end of the government’s target range. “I think we’ve done exactly what was needed,” he said adding the central bank should continue to prioritise low inflation.