Global economy facing tirade of challenges says RBI Governor Shaktikanta Das
Governor Das discussed the multifaceted challenges confronting the global economy, emphasizing the intricate balance required in policymaking amidst these complexities.
Governor Das discussed the multifaceted challenges confronting the global economy, emphasizing the intricate balance required in policymaking amidst these complexities.
As predicted by economists, the Reserve Bank of India’s Monetary Policy Committee (MPC) did not change the repo rate from…
The Governor of RBI said on Thursday that a resilient future-ready bank needs to be financially, operationally and organisationally strong.
"We need to collectively work to strengthen multilateral development banks for many global challenges, like climate change," PM Modi said during the meeting.
Reserve Bank of India Governor Shaktikanta Das said a synchronised tightening of monetary policy globally has progressively increased the risk of a hard landing, which is a recession to tame inflation. India, however, is differently placed.
Das on Thursday said the RBI continues its work on a digital version of a fiat currency and is currently "assessing the financial stability implications of introducing such a Central Bank Digital Currency (CBDC)".
Speaking at the India Economic Conclave, Das said that now the world knows the dangers of the Covid-19 pandemic and it is not as in the case of 2020 when there was complete uncertainty.
The governor also said that maintaining banking sector health with a strong capital base and ethics-driven governance remains a policy priority.
“We do realise that states and centre have their revenue pressures and require high sums of money to enable the country and people to come out COVID-19 stress,” Das said.
The inflation (retail) projection is revised to 5.2 per cent for Q4 of the current fiscal, Das said, adding vegetable prices are likely to remain soft in near term on the back of fresh arrivals in the market.