India in middle of eco recovery, says RBI Dy Guv

MUMBAI: India is in the middle of the economic recovery, the Reserve Bank's Deputy Governor Subir Gokarn, said. (Watch)

However, bank credit was not picking up in line with the (economic) recovery, he said at a meet here today.

The RBI Deputy Governor described inflation as a domestic phenomenon.

Inflation trebled to 4.78 per cent in November from 1.34 per cent in October.