India's consumer prices inflation accelerated to 5.11 per cent in January, after shifting to a new base year for calculating prices, but stayed well below the central bank's target of 6 per cent. (Photo: Reuters) 
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India's consumer prices inflation accelerated to 5.11 per cent in January, after shifting to a new base year for calculating prices, but stayed well below the central bank's target of 6 per cent. (Photo: Reuters) Reserve Bank of India Deputy Governor SS Mundra said on Thursday that India is likely to meet the central bank's inflation target of 6 per cent by January 2016 while economic growth is expected to gradually pick up.
"Inflation should be as indicated by Reserve Bank of India. By January 2016 it should be meeting with our glide path of 6 per cent," Mundra told reporters on the sidelines of an industry event. "Some global uncertainty will always be with us and the system should be prepared to deal with them."
India's consumer prices inflation accelerated to 5.11 per cent in January, after shifting to a new base year for calculating prices, but stayed well below the central bank's target, bolstering prospects for further interest rate cuts.
Mundra said state-owned banks would need Rs 2.5 trillion in capital to meet Basel III requirements by 2019. He had earlier told TV channel CNBC TV18 these lenders would need a higher capital than the Rs 2.4 trillion it had estimated earlier.
(Reuters)
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