India central bank has not lost sight of growth objective, says chief

MUMBAI: The Reserve Bank of India has not lost sight of its growth objective and will continue to set monetary policy keeping in mind its primary objective of price stability while monitoring economic growth, Governor Sanjay Malhotra said on Monday.

Financial stability and price stability do not inhibit growth but support it, he said while speaking at an annual banking conference.

Malhotra also said the 50% tariff rates on Indian goods exported to the United States has not yet become effective and there was still hope that negotiations will play out and the impact on the economy will be negligible.