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Tag: Shaktikanta Das

  • RBI Governor Shaktikanta Das honored with ‘Governor of the Year’ award

    RBI Governor Shaktikanta Das honored with ‘Governor of the Year’ award

    New Delhi. Reserve Bank of India Governor Shaktikanta Das has been honored with the ‘Governor of the Year’ award. Shaktikanta Das has been given this honor by London Central Banking. Shaktikanta Das has taken many major decisions after taking over as the governor of the Reserve Bank. Recently, he has taken a big decision to make two thousand rupee notes out of circulation. Central Banking is an international economic research journal. RBI Governor Shaktikanta Das was selected for the award because of his handling of India’s banking system amid the economic crisis that arose during the Covid pandemic and during the economic upheaval. At the same time, he also achieved success in managing inflation efficiently.

    Earlier on Tuesday, Reserve Bank Governor Shaktikanta Das had said in the opening address given at the summer meetings organized by Britain’s Central Banking in London that the process of controlling inflation will be slow and long and the inflation target of 4 percent in the medium term. aims to achieve.

    The Governor’s name was recommended by the Central Bank for the award in March 2023 itself. He has been awarded the title for his leadership of the central bank during global turmoil and difficult circumstances. He managed the Reserve Bank of India and the entire banking system during the COVID-19 pandemic, critical non-banking companies, the Russia-Ukraine war, etc. Shaktikanta Das led India through the Covid pandemic and the IL&FS crisis.

  • RBI keeps repo rate unchanged

    RBI keeps repo rate unchanged

    Mumbai: The Reserve Bank of India on Thursday hit the pause button and decided to keep key benchmark policy rate at 6.5 per cent even as inflation is trending above its tolerance level.

    The rate hike has been paused after six consecutive rate increases aggregating to 250 basis points since May 2022.

    Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) will not hesitate to take action in the future.

    While keeping the interest rate intact, Das said core inflation remains sticky.

    Core inflation generally refers to inflation in manufactured goods.

    Retail inflation in February stood at 6.44 per cent compared to 6.52 per cent in the previous month. MPC takes into account retail inflation numbers for setting the interest rates.

    However, inflation is expected to moderate in the current fiscal. Many institutions, including the World Bank and Asian Development Bank, have predicted that inflation would cool down to about 5 per cent this financial year.

    For the next fiscal, RBI projected a growth rate of 6.5 per cent as compared to 6.4 per cent estimated in February. In the latest Economic Survey of the finance ministry, growth was projected at 6-6.8 per cent for 2023-24.