RBI Policy: Indian banking system continues to be resilient, he said.
RBI Monetary Policy:The Reserve Bank of India has decided to retain the policy rate for the fourth time in a row, RBI Governor Shaktikanta Das said today, adding that the central bank is closely monitoring inflation.
Here are the top quotes from the RBI governor's address:
- “India is poised to become new growth engine of world. Domestic economy exhibits resilience on back of strong demand.”
- “RBI retains GDP growth forecast for current fiscal at 6.5 pc with risks evenly balanced.”
- “Indian forex reserves stood at $586.9 billion as on September 29.”
- “Inflation is likely to ease in September. Central bank forecasts retail inflation at 5.4 pc for 2023-24. Retail inflation to moderate to 5.2 per cent in next year from the current level of 6.8 per cent. Our inflation target is 4 per cent, not 2 to 6 per cent; we remain vigilant to evolving inflation target,"
- “Indian banking system continues to be resilient on back of improved asset quality.”
- "RBI has decided to double the gold loan under bullet payment scheme to Rs 4 lakh for Urban Cooperative Banks"
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