Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday emphasised the critical role of fiscal-monetary coordination in navigating India through a series of external economic shocks.
Discusses expansion potential
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.
The Governor said the Rs 2000 note was primarily issued to replenish money, taken out from the system during the demonetisation of Rs 500 notes and Rs 1,000 notes.
A resilient bank needs to be financially, operationally and organisationally resilient and should have adequate capital buffers to be able to generate earnings even in times of severe macroeconomic shocks, said Reserve Bank of India governor Shaktikanta Das.
Shaktikanta Das assured that war against inflation, which is above the target, will continue.
