It is a myth that by hiking interest rates they are deaccelerating the inflation. They are instead contributing to inflation that is real and will not come down easily. If we take the example of Banks, the way they can help control inflation, is by reducing the consumer lending business instead they are chasing and scaring away the genuine home loan segment. on one hand they want to make housing affordable then why did you allow realty funds as few benchmark deals and SEZ story have made this hike in property prizes and thereby this mess that is perceived to be the Property Bubble and has made housing unaffordable. Unfortunately, we are in the hands of people like Mr. Chidambaram, Mr. Kamal Nath and Mr. Kamath --- all are busy with their own agendas.
