Indian Economy Remains Resilient Amid Global Challenges: RBI Governor

ENA Economy 2024-11-14 17:18:57 New Delhi, Nov 14 (KNN) Reserve Bank of India Governor Shaktikanta Das affirmed on Thursday that the Indian economy maintains its robust position despite global challenges, citing strong macroeconomic fundamentals, a stable financial system, and a resilient external sector. Speaking at a CNBC TV18 event, Das emphasised that India's economic trajectory remains smooth, powered by these key strengths amid prevailing headwinds. The central bank has actively pursued opportunities to reinforce the country's economic foundation through prudent and proactive policy measures, with a particular emphasis on maintaining financial stability as a catalyst for growth and prosperity. Das outlined the RBI's multifaceted mandate, explaining that the institution takes a comprehensive approach to stability, encompassing price control, financial system robustness, and sustained economic growth. While acknowledging that October's Consumer Price Index reached a 14-month high of 6.21 percent, up from September's 5.5 percent, Das expressed confidence that inflation would moderate despite periodic humps. The RBI continues to work toward its target of maintaining retail inflation at 4 percent on a sustainable basis. Looking ahead, Das emphasised the importance of financial institutions strengthening their capital positions and enhancing risk management practices to address future challenges. He revealed that the Reserve Bank is currently implementing several key initiatives, including the phased adoption of revised Basel III standards, development of guidelines for expected credit loss and liquidity coverage ratio, and establishing a prudent framework for project loan financing. (KNN Bureau) 39919 https://knnindia.co.in/news/newsdetails/economy/indian-economy-remains-resilient-amid-global-challenges-rbi-governor 2024-11-14 17:18:57 knnindia.co.in Indian Economy Remains Resilient Amid Global Challenges: RBI Governor