The two important variables for the policy formulation are projected inflation and the output gap. There is no clear hidebound mathematics that we must give 'X' weight to inflation and 'Y' weight to growth and form the associated policy. Urjit Patel More Quotes by Urjit Patel More Quotes From Urjit Patel Large credit guarantees also impede optimal allocation of financial resources and increase moral hazard. Urjit Patel resources credit moral financial It is easy and quick to fritter away gains regarding macroeconomic stability. Urjit Patel quick away stability easy There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense. Urjit Patel need try be-careful accounting People were holding high denomination notes to keep tax unaccounted for money. Some sectors like real estate were using cash to avoid tax. Urjit Patel real-estate money real people The RBI is interacting with the banks every day. Urjit Patel every-day every day interacting
