RBI Governor Shaktikanta DasImage Credit source: Reuters
Reserve Bank of India Governor Shaktikanta Das has made it clear that it is not in the hands of RBI to stop the increase in interest rates. Speaking at the Annual Meeting of CII, the RBI Governor said that the hike in interest rates would depend on the situation going forward. It is not in our hands to stop it.
While speaking on inflation, Governor Shaktikanta Das said that carelessness cannot be taken regarding the situation of inflation. RBI is constantly trying to reduce inflation. Das said that if we look at the figures of the past few times, there has been a decrease in inflation, but there is still a need to work more on it. There can be no laxity on the inflation front.
Indian banking sector in a strong position
Reserve Bank of India Governor Shaktikanta Das said that India’s banking sector is in a strong position. There is no shortage of liquidity in the market. Although upheaval is going on in the American banking sector. But there is no worrying situation in the banks of India. While talking on the rupee, Shaktikanta Das said that it is not our goal to make it a global currency, but RBI is continuously working on it.
GDP growth expected to pick up
Speaking on the country’s GDP, Shaktikanta Das said that India’s GDP growth is expected to continue to accelerate further. For the current year 2022-23, the RBI’s estimate on GDP is 7 percent. Although it can last more than this.
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Keeping an eye on the country’s financial system
There is an atmosphere of commotion in banks around the world. In such a situation, the RBI is keeping an eye on the financial stability of India. Shaktikanta Das said that we have discussed this issue with the top officials of 11 government banks. Our focus is on strengthening the financial system.
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