Shaktikanta Das is a retired 1980 batch Indian Administrative Service officer of Tamil Nadu cadre. Currently serving as the 25th governor of the Reserve Bank of India, he was earlier a member of the Fifteenth Finance Commission and India’s Sherpa to the G20.
RBI Governor has said that the system of cardless cash withdrawal will be made available across all banks and ATM networks using UPI. Das has also stated that the net worth requirement for the Bharat Bill Payments System Operating Units has been lowered from Rs 100 crores to Rs 25 crores only.
Amid recent Ukraine-Russia crisis, the governor stated, “We have put inflation before growth.”
The RBI Governor also supported his policies today. Evidently, saying that the Reserve Bank will continue to adopt nuanced, nimble approach to liquidity management while ensuring adequate liquidity in system. Lest, he emphasized to add that the central bank will engage in gradual, multi-year withdrawal. Which shall be of Rs 8.5 lakh crore excess liquidity in system.
The commodity and equity benchmarks of Sensex and Nifty have given up early gains. And were strictly flat during the mid-session deals. When the Reserve Bank of India maintained its status quo on the benchmark lending rate. After an increase of nearly 262 points in opening trade. Sensex has paired to trade flat at 58,965.18, lower by 69.77 points at 11:43 hours. During the entire process so far, the benchmark has apparently hit a new high of 59,297.46. Whereas, a low of 58,876.36 where even Nifty traded marginally higher by 5.20 points to 17,644.75.
