New Delhi: Raghuram Rajan, the new RBI Governor, on Wednesday assured that Indian economy remains fundamentally strong.
Rajan said that while the primary objective of the central bank remains monetary stability, inclusive growth and development and financial stability also form part of RBI's role. "The financial markets are volatile, there is domestic uncertainty and the central bank should never say never," he said.
The RBI will come out with its first monetary policy statement on September 20, said the new governor of the Reserve Bank.
He said the RBI should be a beacon of stability as to its objectives. He stressed the need to be more transparent in RBI's policy making.
He said although growth from large companies has slowed down, rural areas have been contributing to the economy. "RBI can accelerate financial development through inclusion," he said.
Rajan, 50, an economics professor who also served as chief economist at the International Monetary Fund, took charge from D Subbarao.
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