Reserves remove doubt on ability to act: RBI Governor Shaktikanta Das Economic activities are expected to improve further going into July or into the second half, says Governor Das The Reserve Bank of India (RBI) is mindful of the entire yield curve and is not just focused on the 10-year bond. However, the 10-year bond has a larger impact on other rates. Hence, the central bank’s intervention in it was greater than in other papers, said RBI Governor Shaktikanta Das in

Participants from the Reserve Bank of India: Shri Sanjay Malhotra – Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri Swaminathan J. – Deputy Governor, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Dr. A. R. Joshi – Executive Director, Reserve Bank of India Moderator: Shri Puneet Pancholy – Chief General Manager, Reserve Bank of India Puneet Pancholy:

Participants from the Reserve Bank of India: Shri Sanjay Malhotra – Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri Swaminathan J. – Deputy Governor, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Dr. A. R. Joshi – Executive Director, Reserve Bank of India Moderator: Shri Puneet Pancholy – Chief General Manager, Reserve Bank of India Puneet Pancholy:

Participants from the RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri Swaminathan J. – Deputy Governor, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Puneet Pancholy – Chief General Manager, R

Participants from the RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri Swaminathan J. – Deputy Governor, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Puneet Pancholy – Chief General Manager, R

CNN Reserve Bank of India Governor. It is good to see your message on the growth of India, but at the same time, you are not immune to the spillover effects of both the slowdown in the West or the other countries, and the higher inflation rates and interest rates. Shaktikanta Das On growth, the year which we just concluded on 31st of March, i.e., the financial year 2022-23; India is expected to have recorded GDP growth of 7.0%. For the current financial year, i.e., Ap

Governor, Shri Shaktikanta Das delivered the 17th K P Hormis Commemorative Lecture on ‘G20 for a Better Global Economic Order during India’s Presidency’ at Kochi on March 17, 2023. After the lecture, the Governor interacted with the audience. The edited excerpts of the interaction are placed below. Moderator: Thank you, sir. The forum is open to questions. If you have any, kindly raise your hand. Gayathri Suresh, FISAT Business School: Good afternoon, sir. My name is

Participants from the Government of India and the Reserve Bank of India: Smt. Nirmala Sitharaman – Finance Minister Dr. Bhagwat Kishanrao Karad – Minister of State Shri Pankaj Chaudhary – Minister of State Shri Shaktikanta Das – Governor, Reserve Bank of India Moderator: Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Yogesh Dayal: Good afternoon, everyone. Welcome to the post-Central Board meeting press conference. Today, we have with us Honorable Fi

Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Shri Saurav Sinha – Executive Director, Reserve Bank of India Shri R. Subramanian – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive

Tamal Bandyopadhyay: A very warm welcome to this fireside chat. I am a bit nervous sir. You always wear a different kind of tie. What is the brand that you prefer? Shaktikanta Das: It goes with the season and a Central Bank has to be for all seasons. Tamal Bandyopadhyay: Somebody told me that if you want to speak to someone and make them feel at ease, you start talking about ties. Mr Dave, CEO, HSBC India is sitting here. He was trying to excite me to ask all sorts of

ज़ी बिजनेस आरबीआई ने कोविड-19 पेंडेमिक के समय देश के बैंकिंग सिस्टम और अर्थव्यवस्था को बड़े मुश्किल दौर से निकालने का काम किया है। ब्याज दरों में तेज कटौती करके, सिस्टम में लिक्विडिटी डालकर, जरूरत पड़ने पर मोराटोरियम देकर और साथ ही साथ लोंस की रिस्ट्रक्चरिंग को आसान करके, अर्थव्यवस्था को उस वक्त जिस बड़े सहारे की जरूरत थी, बैंकिंग सिस्टम को थी, वह काम किया। लेकिन आरबीआई का काम ऐसा है कि चुनौतियां कभी खत्म नहीं होती। अभी भी कुछ बड़ी और नई चुनौतियां हैं, दुनिया भर से भी

Sanjiv Chadha, Managing Director, Bank of Baroda Thank you very much, Governor once again for that tour de force. We are really reassured about the fact that in terms of the external sector, despite what is happening in the neighbouring countries, India is in a different and very strong place. Also, I think the areas you covered in terms of what banks need to focus on, I am sure that will define the agenda for not only this conference but also for the next few years.

Q: What are the risks and opportunities for the Indian economy? The revival of economic activity continues to be steady and is gaining traction. GDP has exceeded 2019-20 levels, and from April 2022 onwards, many high-frequency indicators that we monitor are showing steady improvement. The economy is back on track. In terms of business activities or investment, the opportunities are larger in pharma, technology, and renewables, etc. The other opportunity for India is t

Qn: Good morning, thank you, sir, for this encouraging address. It is so very encouraging to see the regulator talk about various forms of regulations. You talked about entity-based, activity-based and outcome-based regulation. There is another school of thought in terms of the ultimate user, i.e., the borrower segment-centric regulation. I say this, especially in the context of the pandemic and certain conditions. The small borrowers are the ones who get affected the

Edited excerpts: Since the last monetary policy statement, have you seen any positive signs in the economy? Whatever I said in my last interview, by and large, holds good even today. There are signs of recovery; there are signs of some of the fast moving indicators improving. Passenger vehicles, sequentially, have improved marginally. Several of the fast moving indicators that include GST collections, e-way bills, railway freight, have improved over the position a mon

It is not like any other year, when inflation goes up, you start tightening the monetary policy: RBI Governor Shaktikanta Das Over the last few months, the government has taken steps to address the price rise in pulses, edible oils as also the imported inflation, but we do expect more measures from both the Centre and states to soften the pace of inflation. By Shobhana Subramanian and KG Narendranath Retail inflation print stayed above the upper band of the Reserve Ba

Reserves remove doubt on ability to act: RBI Governor Shaktikanta Das Economic activities are expected to improve further going into July or into the second half, says Governor Das The Reserve Bank of India (RBI) is mindful of the entire yield curve and is not just focused on the 10-year bond. However, the 10-year bond has a larger impact on other rates. Hence, the central bank’s intervention in it was greater than in other papers, said RBI Governor Shaktikanta Das in

Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Yogesh Dayal (Moderator): Hello, and welcome to this post policy press conference f

 

What is your assessment of the economy? Growth impulses are gradually and steadily getting broad-based. The high-frequency indicators such as steel consumption, PMI for manufacturing and services are expanding, GST collections and e-way bills are showing improvement. Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the dema

Q1. Has it been an RBI throne or a crown with thorns? How has the two years been as RBI Governor? A: The position has been one of great responsibility. There have been two types of situations. It has been a great opportunity to work towards the betterment of the economy of this country. However, there have been challenges and difficulties. Q2. You have been successful in coming out of the image of your predecessors who were perceived to be reclusive. You have a very c