December 11th, 2008 
Tushar Mathur
The outlook for the Indian economy in the coming months remains uncertain but the Reserve Bank of India (RBI) will take appropriate Subbarao action when needed, its chief said on Thursday.
“The situation way forward is quite uncertain. The RBI will take appropriate action as and when required,” Subbarao told reporters after a meeting of the bank’s governing board.
“The RBI will continue to closely monitor the developments in the global and domestic financial markets and will take swift and effective action as appropriate.”
He also said the central bank would endeavour to minimise the stress on various sectors of the economy which have been hurt by the global economic crisis.
On Saturday, the bank aggressively cut its main rates to support slowing.
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