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Shaktikanta Das, Governor of the Reserve Bank of India (RBI), stated on Wednesday that the Monetary Policy Committee (MPC) at its February meeting has put real GDP growth for FY24 at 6.4%, while growth for FY23 has been pegged at 7%. The MPC predicts 7.8% growth in Q1FY24, 6.2% in Q2, 6% in Q3, and 5.8% in Q4.
Indian economy remains resilient, RBI Governor Shaktikanta Das said.
Cryptocurrencies, according to RBI Governor Shaktikanta Das, have no underlying value and pose dangers to macroeconomic and financial stability.
The rupee has lost 8% of its value in the fiscal year 2022–2023. The value of the US dollar has increased by 13% throughout that time.
Shaktikanta Das, Governor of the Reserve Bank of India, stated on Wednesday that the goal of the central bank was to bring inflation down to its target.
Shaktikanta Das noted that despite two Black Swan occurrences occurring simultaneously and several shocks, financial stability, macroeconomic stability, and growth resilience are being observed.
In a statement, the decision was announced to be effective beginning from the end of Shaktikanta Das’ first term on December 10.
CPI inflation for the first quarter of 2022-23 is estimated at 5.1%. The repo rates have been fixed at 4%.
Payments banks are similar to normal banks but do not offer full-fledged services of a normal bank.
Reserve Bank of India Governor Shaktikanta Das has announced the bi-monthly monetary policy statement on Wednesday.
Reserve Bank of India’s Governor Shaktikanta Das will announce the bi-monthly monetary policy on tomorrow at 10 am.
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