New RBI governor pledges to fight inflation

Duvvuri Subbarao, who took the helm at the Reserve Bank of India on Friday, has said fighting inflation is his "immediate priority".

"The immediate priority for me as governor of the Reserve Bank will be to manage inflation and anchor inflation expectations," Subbarao said in Delhi on Friday. "The priority in the short- to medium-term will be to pursue financial sector reforms in the context of financial stability, price stability."

Inflation has recently fallen back from a 13-year high recor