The Reserve Bank of India’s monetary policy meeting concluded today, with the Governor stating that the Indian economy has shown strong resilience despite global uncertainties and sectoral headwinds. He said the country is poised to register high growth, supported by sustained momentum across manufacturing, services, and financial sectors.
The Governor noted that bank credit has seen an 11.4% uptick, resource flows to the commercial sector have improved, and system-level financial parameters of banks and non-bank lenders remain “robust and sound.” He added that liquidity conditions remain in surplus, aided by smoother transmission across sectors.
Earlier, the Governor also confirmed that the dollar–rupee swap will be for three years and will be conducted this month, with India’s foreign exchange reserves standing at $686 billion as of November 28. Strong services exports and healthy remittances are expected to help maintain a modest current account deficit this year.
With the review now concluded, the RBI maintained that India’s balanced macroeconomic environment and supportive domestic demand position the economy for continued expansion.
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