RBI News: RBI Governor Shaktikanta Das has said these things while addressing the annual conference of CII.
RBI Says: RBI Governor Shaktikanta Das has said that the decision to reduce interest rates in the coming days will depend on the conditions and figures of the economy. The RBI governor said that the retail inflation rate in the month of May is expected to be lower than in April. In April, the retail inflation rate came down to an 18-month low of 4.70 percent, whereas exactly a year ago in April 2022, the retail inflation rate had reached 7.79 percent.
Addressing the annual conference of Business Chamber CII, Shaktikanta Das said that it is not in my hands to stop the increase in interest rate, it will depend on the situation. He said that the rate of inflation has definitely come down, but this is not the time to be careless and careless. RBI Governor said that the figures are indicating that the GDP for the financial year 2022-23 could be more than 7 percent.
The RBI Governor said that the Indian banking system remains stable and robust with strong capital, liquidity position and improving asset quality. He said that the Reserve Bank will ensure sufficient cash to meet the productive needs of the economy.
The RBI Governor said that the Central Banks of different countries had decided to increase the interest rates to curb inflation. After which many problems have emerged in banking and non-banking financial institutions. The RBI governor was pointing to the recent banking crisis in America and Switzerland. He said that due to the increase in interest rates, banking crisis has emerged in America (United States) and Switzerland (Switzerland). He said that there is still volatility in the financial market due to the uncertainty of the future monetary policy.
