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Must Use Taper Delay To Reinforce India: Raghuram Rajan

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September 20: In a move that surprised markets, RBI Governor Raghuram Rajan hiked repo rates to 7.5%. Banks led the market collapsed post the move, but Rajan says the banks are maybe overstating the impact of the RBI’s move on CRR. “This move was made to ward off escalating expectations of inflation,” he says, adding that future policy will be shaped around economic conditions. “We must use the delay in tapering to create a bullet-proof balance sheet and growth agenda,” he adds.