This means there will be pressure on you to cut the policy rate. Rajan cut the policy rate by 1.5 percentage points since the start of 2015 but could not cut further as inflation started rising. If there is no disruption in the market, we will probably see you announcing the first rate cut in December. The third member is the deputy governor in-charge of monetary policy, a post currently vacant following your elevation. Even otherwise, it is important to get a competent deputy in charge of monetary policy.

Source: Mint September 11, 2016 17:48 UTC