Urjit Patel led RBI hikes repo rate by 25 bps; Guv says will remain vigilant going forward
Patel said that for FY19, the forecast of a normal south-west monsoon augurs well for agriculture sector, as input cost pressures are firming up. He said cost of farm outputs has risen sequentially. "Domestic economic activity has exhibited revival in recent times, he said, adding "farm loan waivers have been done through budgets of individual state governments, so there is no implications on banks' NPA."
RBI Governor Urjit Patel also said that the monetary policy is determined by CPI. A neutral stance leaves all options open. Investment activity is estimated to be robust. Image source: PTI