*  *  *  At the outset, on behalf of the Reserve Bank of India, I welcome you all to India and to this wonderful state of Goa. My thanks also to the Asia Regional Committee (ARC) of the International Association of Deposit Insurers (IADI) for giving an opportunity to the Deposit Insurance and Credit Guarantee Corporation (DICGC) to host this Conference.
This was the case early this year when economic data suggested that an adjustment in policy rate was not yet warranted. Moreover, our forecast continued to show inflation upticks as transitory and moderating within the target in 2019.