Greek crisis not to change RBI exit roadmap

The Reserve Bank of India on Thursday said the Greek debt crisis would not change its roadmap to exit from the accommodative stance, as the central bank has already factored in the impact of global uncertainties in its exit-policy.

"We do not believe that there is any reason to change our approach. Because it (the Greek crisis) is not showing signs of spilling over to a larger real economy problem," RBI Deputy Governor, Subir Gokarn said.

The apex bank reduced its key rates several times to fight the financial crisis, which broke out in end-2008 but started gradually reversing the easy money stance since October last year to contain the inflationary pressures in the economy.

"It (the crisis) reflects, obviously, the continuing global uncertain environment, which is a factor we have already built into our exit strategy," Gokarn, who was earlier an economist with international rating agency, Standard and Poor's said.

The Central Bank, however, is keeping a close watch on the developments unfolding in the global markets, Gokarn said.

"There are packages in place, there are very serious efforts to contain and not let the crisis to spread to other countries. But we keep a watch on things and see how it pans out," Gokarn said.