90 Years of RBI: Shaktikanta Das Says Central Bank Takes Necessary Steps To Remain In Sync With Changing Times
Mumbai: RBI Governor Shaktikanta Das on Monday addressed the event ’90 Years of RBI’ and said the central bank takes necessary steps to remain in sync with changing times. He said the RBI’s evolution as an institution has been closely intertwined with the development of the Indian economy.
“From being a central bank primarily concerned with the allocation of scarce resources during the planning period, the RBI has transitioned into being an enabler for the market economy. The path-breaking structural reforms such as the enactment of the Insolvency and Bankruptcy Code and the adoption of flexible inflation targeting in recent years have helped us to deal with the challenges in the banking system and the task of maintaining price stability more effectively,” he said.
#WATCH | Mumbai: At the commemoration ceremony of 90 years of the Reserve Bank of India, RBI Governor Shaktikanta Das says, “The Covid-19 pandemic and the ongoing geo politics hostilities have tested the resilience of every economy in the world, including India. The… pic.twitter.com/hGZlQUKi0H
— ANI (@ANI) April 1, 2024
The governor added that given the rapid changes taking place in today’s world, the central bank is constantly evaluating the emerging trends and taking necessary policy measures to remain in sync with the changing times.
Shaktikanta Das said the Covid-19 pandemic and the ongoing geo politics hostilities have tested the resilience of every economy in the world, including India.
“The well-calibrated and coordinated monetary and fiscal policies adopted in our country went a long way in shielding our economy from these shocks and helped us to emerge even stronger than before.”
He said it is a matter of satisfaction that today the GDP growth is robust, inflation is moderating, the financial sector is stable, the external sector remains resilient, and the forex reserves are at an all-time high…”