K C Chakrabarty: Gearing up for the competitive impulse in the Indian banking in its defining decade Special address by Dr K C Chakrabarty, Deputy Governor of the Reserve Bank of India, at BANCON 2011, Chennai, 4 November 2011. *  *  *  Assistance provided by Dr Mridul Saggar in preparation of this address is gratefully acknowledged.
Inflation has remained elevated and incoming information has confirmed our view that inflation is likely to stay above 2% over the months ahead but to decline thereafter. At the same time, the underlying pace of monetary expansion continues to be moderate.