Any hasty withdrawal from the present monetary policy accommodation can potentially undo all the gains that have been achieved after the devastating Covid-19 pandemic, Reserve Bank of India (RBI) Governor Shaktikanta Das told Business Standard in an exclusive interview. Inflation is showing signs of stickiness, but it is only a “transitory hump” that should moderate in the third quarter, he said.

       Therefore, the monetary policy committee (MPC) is more inclined to look through the perk-up in prices, as “growth is the main challenge” for now. The governor said ...