Reserve Bank of India (RBI) Governor Shaktikanta Das said despite the moderation seen in first quarter gross domestic product growth (GDP), the Indian economy is likely to achieve full year growth of 7.2 per cent as projected.
Prime Minister Narendra Modi on Wednesday congratulated RBI Governor Shaktikanta Das on being rated “A+”, for the second time in a row, in Global Finance Central Banker Report Cards 2024.
Delivering a speech at the Financial Express Modern BFSI Summit in Mumbai, he said, “Deposit mobilisation has been lagging credit growth for some time now. This may potentially expose the system to structural liquidity issues.”
Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said, “e-Rupee has transformative potential and sees considerable scope for digitisation of payments.”
The stakeholders also discussed prioritizing the upgradation of IT systems and cyber security amid the increase in the use of technology applications.
With the latest official data indicating a cooling off in the headline inflation to 4.7 per cent in April, RBI Governor Shaktikanta Das said that it proves the monetary policy is on the right track, here on Friday.
On Thursday, RBI retained its key short-term lending rates during the sixth and final monetary policy review of FY22.
The governor also said that maintaining banking sector health with a strong capital base and ethics-driven governance remains a policy priority.
The Governor also assured the industry that "RBI is battle ready... whatever measures are required will be taken by the RBI".
Das, in his address, said both private and public sectors have to play an important role in developing infrastructure that requires huge investments.
