India to remain among fastest growing large economies in 2023: RBI Governor
RBI Governor said the Indian economy had made rapid gains and has gradually integrated with the global economy over the years.
RBI Governor said the Indian economy had made rapid gains and has gradually integrated with the global economy over the years.
On May 19, RBI decided to withdraw the Rs 2,000 denomination currency notes from circulation, but said it will continue to remain as legal tender.
There are chances of India's gross domestic product (GDP) for FY23 crossing the estimated 7 per cent growth going by the trends, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday.
Reserve Bank of India governor Shaktikanta Das said this on the basis of strength in various macro fundamentals.
There has been some speculation that the decision to withdraw Rs 2000 note may put a strain on the overall money supply.
Union Bank of India managing director and CEO Rajkiran Rai said, There is a possibility of 25 basis points cut or they may hold on (the rate).
Das made the statement while he was delivering a keynote at the 7th State Bank of India Banking and Economics conclave.
The outlook of inflation also remains "highly uncertain", RBI Governor Shaktikanta Das said while announcing a 40-basis point cut in the repo rate as part of the monetary measures to deal with the current crisis.
To mitigate the economic difficulties arising out of the virus outbreak, the Government of India has announced a comprehensive package of ₹1.70 lakh crore.
RBI governor told that sectors such as tourism, airlines, hospitality, and domestic trade and transport are suffering the loss of activity.