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Saugata Bhattacharya, an external member of the Reserve Bank of India’s (RBI’s) monetary policy committee (MPC)
7 min read
Last Updated :
Aug 24 2026 | 11:54 PM
IST
The markets were surprised by the hawkish commentary from the Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) last week since the August policy was being viewed as dovish. While explaining how the market missed the message for a need to recalibrate policy rates, Saugata Bhattacharya, external member of the MPC, during an interaction with Manojit Saha in New Delhi, says the cost of policy action and not falling behind the curve in controlling inflation must be balanced. Edited excerpts:


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