The measures initiated by the Reserve Bank of India to counter inflation could take effect in the next couple of months, RBI Deputy Governor Subir Gokarn said here on Friday.

Interacting with reporters on the sidelines of the meet on financial inclusion held by the Great Lakes Institute of Management, Mr. Gokarn said “we have done enough to manage the inflation and expect the effects in the second half of the year.”

While a good monsoon moderated food prices, the softening of global commodity prices and excess capacity of traded manufactured products were expected to help ease supply side pressures.

Replying to a question, Mr. Gokarn said the discussion paper on the new draft guidelines for banking licences was in its final stages.

“Very soon we are going to place the discussion paper in the public domain,'' he said while refusing to fix a date on when the guidelines would be out.

More In: Companies | Business