Strong and stable financial system must serve as a pillar for economic growth: RBI Governor: Governor of the Reserve Bank Shaktikanta Das stated on Monday that the goal of the institution will be to establish a robust and stable financial system over the next ten years, which will serve as the cornerstone for the nation’s economic development.
At a celebration honouring the RBI’s 90th anniversary, he stated that the institution has come to represent stability, resiliency, and dedication to the welfare of our people.
“The Reserve Bank remains focused on a stable and strong financial system that would act as the bedrock for our country’s economic progress as we move towards RBI at 100,” he stated.
He added that the Reserve Bank makes an attempt to foresee circumstances and take proactive actions. The Reserve Bank is continuously assessing the developing trends and implementing the required policy measures to stay in step with the times.
Das emphasised how the growth of the Indian economy has been intimately linked to the Reserve Bank’s institutional structure.
We are a full-service central bank with a variety of roles that we do. Our goal has been to advance a strong, resilient, and future-ready financial sector, the speaker stated.
Regarding structural changes, he stated that recent developments like as the adoption of flexible inflation targeting and the enactment of the Insolvency and Bankruptcy Code (IBC) have made it easier to manage the difficulties facing the banking sector and the mission of preserving price stability.
