Here Is Your 10-Point Guide To The Story:
"We are well on track to bring down inflation and inflation expectations. Until December, retail inflation is expected to remain higher than the upper tolerance level. Thereafter, it is expected to go below 6 per cent as per our current projections," Mr Das said in a newspaper article.
"Inflation expectations influence not only households but also businesses and drive up pricing of food, manufactured goods and services. If they expect inflation to be high, even companies will defer their investment plans," he added.
The RBI Governor said pressure on the rupee, which hit a record low of 78.39 against the dollar on Wednesday, was largely due to the monetary policy tightening in advanced economies to tackle high inflation.
"In such a situation, there will be an outflow of capital from emerging market economies. It is happening across emerging market economies. This is nothing but the spillover of the monetary policy actions in advanced economies," he said.
On Friday, RBI Deputy Governor Michael D Patra said the central bank will not allow "jerky movements" of the rupee and stressed that the Indian currency has witnessed the least depreciation in recent times.
"We will stand for its stability, and we're doing it on an ongoing basis even as I speak. We are there in the market. We will not allow disorderly movements. We have no level in our mind, but we will not allow jerky movements, that is for certain, and let it be widely known that we are in the market defending the rupee against volatility," he said during an industry event.
Mr Patra further said if one looks at the depreciation of the rupee, it is one of the least in the world, and that is the power of $600 billion in reserves.
RBI is hopeful that required monetary policy actions will be more moderate than in the rest of the world, and there are indications that inflation is peaking, Mr Patra said.
The Deputy Governor said internal research has shown that growth is unambiguously impaired when inflation exceeds 6 per cent. With core measures of inflation showing signs of generalisation, monetary action is certainly warranted.
"The ongoing geopolitical developments in Ukraine have challenged India's economic prospects, thereby darkening the country's outlook and making it highly uncertain," he added.