Inflation is now well within the target range, the RBI chief said. (Deposit)

New Delhi:

Reserve Bank Governor Shaktikanta Das said on Friday that the central bank was not acting as a watchdog but was maintaining close supervision over the financial market and taking regulatory measures whenever necessary.

The RBI governor’s remark comes a day after the central bank ordered Sachin Bansal’s Navi Finserv and three other NBFCs to stop approving and disbursing loans from close of business on October 21 due to significant monitoring problems, notably price gouging.

“No… we are not police officers. We monitor. We monitor very closely. We remain vigilant in the credit markets and… when it becomes necessary, we act,” he said at the India Credit Forum organized by Bloomberg.

Noting that this is India’s time, Das said: “India’s growth is intact. Inflation is now well within the target range. It is expected to moderate.” In fact, there are significant risks, he said. The RBI is monitoring the overall outlook for growth and inflation very carefully.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)