RBI: Global uncertainities higher than estimates

Y V Reddy, Governor of Reserve Bank of India, said on Thursday 14 July that global economic uncertainities had surpassed earlier estimates, but maintained that the central bank would stick to the "basic projections" until the review of monetary policy.

"As far as the outlook on the economy is concerned, a formal response will come during the monetary policy review (later this month). As of now, we are sticking to the basic projections, but global uncertainties have certainly increased than wha