RBI chief Raghuram Rajan says haven't moved to targeting inflation

Reserve Bank of India Governor Raghuram Rajan said on Friday the central bank has not yet moved to an inflation target, and was still exploring the suggestions on the subject drafted by a panel with the government.

A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target, with an aim to eventually bring down consumer-price based inflation to 4 per cent with a 2 per ent band on either side.

"We haven't moved to inflation targeting as yet," Rajan said at an event in Mumbai.