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.
It can be noted that the Indian economy contracted by 23.9 per cent in the first quarter of the fiscal year, and the RBI expects the economy to shrink by 9.5 per cent in FY21.
"I have tested COVID-19 positive. Asymptomatic. Feeling very much alright. Have alerted those who came in contact in recent days," he said in a tweet.
He further said that the central bank has asked all the banks and NBFCs to undertake stress test internally.
Accordingly, RBI will purchase the SDLs... through a multi-security auction using the multiple price method.
While making the announcement noted that India will be among very few countries globally with '24x7x365' large value real-time payment system.