Reserve Bank of India Governor Shaktikanta Das on Wednesday said the country is “at the doorstep of the revival process” from the coronavir...
Reserve Bank of India Governor Shaktikanta Das on Wednesday said the country is “at the doorstep of the revival process” from the coronavirus pandemic, PTI reported. He added that the government’s
fiscal and RBI’s monetary policies were counter-cyclical and accommodative.
“The government has undertaken several measures in very, very prudent and well calibrated measure in the context of the pandemic,” Das said. “First, to provide financial support to the vulnerable sections of the society and then provide certain kinds of relief to the other segments like industry and business.”
Das was speaking at an event to release Portraits of Power: Half a Century of Being at Ringside, an autobiography of NK Singh, chairman of the 15th Finance Commission.
The central bank chief also said the government would have to revisit its fiscal roadmap once the worst effects of the pandemic is tackled. “India is at the doorstep of revival process after the effects of the pandemic and it’s very important that financial entities have adequate capital,” Das said. “Many of them have already raised capital, others in public and private sector are planning and would certainly do so in the coming months.”
He stressed on the need for reforms in the banking sector, saying it has been a concern since the...
