‘Decisions to be forward-looking’
New Delhi : RBI Governor Urjit Patel said monetary policy decisions need to be “forward- looking” and cannot be taken on the basis of day-to-day inflation rates.
On monetary policy framework, he said Monetary Policy Committee (MPC), which decided to keep key rates unchanged earlier this week, has explained its reasons for the decisions it takes as per policy framework and the inflation targeting system that has been followed due to legislative change.
Meanwhile, Sebi Chairman Ajay Tygai said that mutual funds are not any substitution for bank deposits but MFs are the right route for retail investors to participate in capital markets.
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