RBI will take note of declining inflation, says Arun Jaitley

Making a case for interest rate cut, Finance Minister Arun Jaitley on Thuesday hoped that RBI will take note of the declining inflation and take a decision accordingly.

"Inflation is under control and hopefully, the impact of inflation being under control is a factor which, I am sure, the central bank with all its wisdom will take note of," he said while speaking at the SBI Banking and Economics Conclave.

Inflation, both retail and wholesale, are at record lows. While retail inflation stood at 3.78%, WPI came in at (-)4.05% in July.

RBI, which had cut the benchmark rate on three occasions by a total of 0.75% this year, has linked further monetary action to further softening of inflation.