Determined to bring down consumer inflation: Raghuram Rajan
Reserve Bank of India (RBI) Governor Raghuram Rajan said that he was determined to ease consumer inflation through a combination of demand and supply management. An RBI panel in January recommended bringing consumer price index (CPI) inflation down to around eight percent by the end of January 2015 and to six percent by the end of the following year. Rajan also noted that the RBI would issue circulars regarding banks' lending for infrastructure projects. The RBI Governor also assured stability in oil price.
A dramatic waterspout was spotted near Patrick Air Force Base, FL, on Thursday, July 10. This video filmed on Cocoa Beach shows spray rising off the waterspout. Credit: YouTube/Bo Trapnell