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Journalism of Courage
The RBI is committed to ensuring 8220;stability, stable value of rupee domestically and globally8221;, and that is a higher priority than anything else, RBI governor Y V Reddy said in Chennai on Friday. Reddy said that the people of India had faith in the rupee and that its value would not be eroded. 8220;The political set-up in India has never liked inflation above 10 per cent.The RBI has hated high inflation8230; we are pretty much a market economy, which means the people of India know that the value of the rupee will not be eroded. They have faith in the rupee. They put rupees in our banks and our situation is comfortable,8221; he said.
