RBI Governor Das talks about the forthcoming economic plans

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In an exclusive interview with CNBC-TV18, Reserve Bank of India Governor Shaktikanta Das talked about all the upcoming projects RBI will be undertaking including the launch of the National Cryptocurrency.

He said that although there are several benefits of the blockchain platform, they are also accompanied with several technicalities and complications which have been relayed to the Government. Owing to these difficulties, he said that it cannot be predicted how long it’ll be before the currency is released.

Das also commented on the economic recovery after the COVID-19 pandemic and said that India has made healthy and stable improvement saying, “At the moment, we are okay with the level of liquidity. All the instruments are on the table; if required we will use new instruments.”

Talking about the current liquidity in the market, Das seemed pretty confident about the measures that institution has in place – “We will not prematurely pull out liquidity to stifle growth. The Central Bank has many known and unknown tools to deal with liquidity situations. RBI will ensure the availability of ample liquidity.”

“The RBI Monetary Policy Committee (MPC) had kept the repo rate unchanged in the sixth and last bi-monthly monetary policy meeting for the financial year 2020-21. The repo rate stands at 4 percent and the reverse repo rate has at 3.35 percent,” CNBC reported.