New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said steps will be taken to boost sustainable growth in the economy. At the Vibrant Gujarat Global Summit, Das said balancing inflation and growth would require careful analysis of new incoming data. Interestingly, this statement comes ahead of the monetary policy review in February.
“We will take necessary steps to maintain financial stability and to facilitate enabling conditions for sustainable and robust growth,” he said in his first speech after taking charge as the 25th RBI governor.
On Thursday, Union finance Minster Arun Jaitley had said India has the highest real rate of interest in the world. He added that the central bank has been in talks with stakeholders and is well-versed with the economic situation.
Das said the external sector requires careful monitoring given the volatility in crude oil prices and the global financial market. He also warned that Indian companies should brace themselves for any impact of the vote on the Brexit deal.
Earlier, the RBI governor had remarked that the RBI will avoid a situation of excess liquidity in the economy. Also, any infusion of liquidity will have to be need-based.
Das also said that additional open market operation of Rs.60,000 crore by the Reserve Bank of India is enough to meet the requirements of the economy and financial institutions in the country.