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Inflation is a destructive disease: Rajan

Industrialists complain about high interest rates. But, RBI didn't have a choice but to keep interest at a high rate

January 24, 2014 4:30 IST | India Infoline News Service
Reserve Bank of India (RBI) governor Raghuram Rajan on Thursday called inflation a "destructive disease" which forced the bank to keep interest rates high, according to a newswire report.


Rajan further said that the industrialists complain about high interest rates. However the central bank didn't have a choice but to keep interest at a high rate because inflation is high at 8 per cent, the governor added.


Rajan was speaking at the 8th RN Kao Memorial Lecture organised by Research and Analysis Wing (RAW) in New Delhi.

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