RBI Governor Shaktikanta Das News

RBI MPC Meet was today, on February 8. Governor Shaktikanta Das shed light on the action taken against Paytm's bank. There is no cause for concern for other fintech firms.

The 30-share BSE Sensex climbed 174.2 points to 63,317.16 in morning trade after the monetary policy announcement. The NSE Nifty advanced 49.2 points to 18,775.60.

In his keynote address at an IMF conference here, Das said with the global trade outlook for 2022-23 overcast, greater intra-regional trade in the South Asian region can enhance opportunities for growth and employment.

Shaktikanta Das done a master's degree in history from St Stephen's College. Das was brought in as RBI governor after the sudden exit of Urjit Patel. Das is the first non-economist governor of the RBI in 28 years.

RBI noted that the Omicron variant of coronavirus remains the major challenge along with rising inflation pressures. RBI Governor has called for stronger supply-side measures to contain food and energy prices. He also admitted that inflation remains a concern as it is by the build-up of cost-push pressures.

Das acknowledged the improved financial and operational resilience of the banking sector that imparts strength to financial stability. He emphasised the need for banks to continue providing necessary support in the revival of economic activity, the RBI said. Several other matters, including credit flows, especially to micro and small enterprises, were also discussed during the meetings.

The Reserve Bank of India (RBI) will transfer Rs 99,122 crore as surplus to the Centre for nine months ended March 31, 2021. According to the RBI, the Board in its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of Covid-19 on the economy.

According to him, the immediate policy response to COVID-19 in the country has been to prioritise the stabilisation of the economy and support quick recovery policies for durable and sustainable high growth Das also said financial market conditions in India have eased significantly across segments in response to the front-loaded cuts in the policy repo rate "We are also very carefully monitoring the markets. As and when required further measures will be taken," RBI Governor said

This is his third press conference (the other two being on March 27 and April 17).

As per media reports the RBI governor is expected to announce an extension of the loan moratorium for a few more months following the extension of the nationwide lockdown till May 31.

RBI Governor Shaktikanta Das earlier appealed to the public to use every precautionary measure, including digital banking, to maintain social distance.

Read here the complete statement of RBI Governor Shaktikanta Das to boost liquidity and expand bank credit.

Das said the RBI saw an imminent slowdown in growth early in 2019 and used the space that was opened up by the moderation in inflation to cut interest rates on five consecutive occasions.

Rahul Gandhi wrote the letter following his two-day visit to his Lok Sabha Constituency Wayanad, which is one of the most affected districts in Kerala due to floods.