Subir Gokarn, a deputy governor of the Reserve Bank of India (RBI), said on Saturday that the central bank would need to employ a "graded process" to exit the extraordinary measures implemented to tackle the crisis, and hinted at a tightening in policy stance to combat rising food price inflation.

"Persistently rising food prices may spill over into inflation expectations," he told reporters at an industry conference in New Delhi. "Therefore, it is a factor that we will have to take into account