RBI Deputy Governor, Subir Gokarn, was the guest speaker last week in a seminar organised by FICCI. Soon after his keynote address, the media cornered him, in an effort to get a sound byte on rising inflation and a slowdown in the economic growth. Mr Gokarn found it difficult to wriggle out. But he had his way. The Deputy Governor changed his track by putting a counter question, “Can anyone remind me which month are we in? When reporters said ‘January,’ he quickly said, “Ah! It is a silent period for RBI (since RBI monetary policy is announced this month)” and walked off. It is another matter that early this week, RBI Governor D Subbarao moved the money markets with his comments that RBI is desperate to control inflation.
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