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 on Friday gave a thumbs up to the country's banking system, while stressing how recent developments in the US have brought to the fore the criticality of banking sector regulation and supervision.
"We need to collectively work to strengthen multilateral development banks for many global challenges, like climate change," PM Modi said during the meeting.
"Recovery in demand gathered pace in August-September. Pick-up in import of capital goods point to some recovery in activity," Das said while hoping to sail towards normal times.
As per the RBI's assessment of the resurgence in inflation in India since the June 2021 policy is that it is driven largely by adverse supply-side drivers impinging on food, fuel and core groups due to multifarious disruptions caused by the pandemic.
Further, the governor said that India's exports in March, April and May this year have seen an upswing, which is evident of the sector's potential.
