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But he insisted Russia still needed to see through its commitment to calming tensions in Ukraine, adding: "We're not going to count on it until we see it".
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The RBI, under the leadership of its able governor, Raghuram Rajan, has met its target of getting inflation below 8% by the start of this year a commitment that helped to calm financial markets and stabilise the currency.
Listen to calming music.
Unless Russia is prepared to show serious commitment to reform and moves to calm things in Ukraine it should expect the economic turmoil to continue.Dig deeper: Buttonwood on Russia's Black Tuesday (Dec 2014) As the oil price plunges gloom and ill-will abound (Dec 2014) Why the price of oil is falling (Dec 2014).
That forced the International Monetary Fund and the Europeans on Wednesday to practically quadruple the commitment to Greece, to try to calm the markets and not turn their attention to Portugal, another weak reed.
But so that good Chinese money isn't spent in vain, he calls for a European commitment to "structural reform" to calm markets.
They believed that mere expressions of support would be enough to calm the markets — and that they did not need to put in real commitments of emergency funds.
Then he moves on to the highlights film: the slow but growing commitment to civil rights, the calming of nuclear tensions after near holocaust, the Peace Corps and space program, the great speeches in Berlin and at American University.
"To calm her down".
Saturday to calm winds.
"Both countries have the desire to calm Afghanistan, to calm Iraq, to calm Syria.
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