RBI Governor Shaktikanta Das: The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, was in New Delhi today to address a high-level conference on the theme “Central Banking at Crossroads.” During his speech, he discussed the functioning of banks and also alerted them to be cautious about certain challenges so they can operate smoothly in the current global scenario.
RBI Governor Speaks in New Delhi
During his keynote address under the RBI’s RBI@90 initiative, Shaktikanta Das noted that the global economy is more integrated than ever. He explained how changes in monetary policies by central banks worldwide are causing instability in capital flows and exchange rates. This event was part of the celebrations marking 90 years since the RBI’s establishment, with several programs happening across the country.
Why Did the RBI Governor Warn Banks?
In Delhi, Shaktikanta Das advised banks to be cautious when it comes to social media. He also emphasized that banks should maintain strong liquidity buffers, meaning they should ensure a healthy flow of liquid capital to handle any unexpected situations effectively.
Opportunities to Increase Remittances and Capital Flows
The governor highlighted three areas where central banking may need to be redefined in the future: monetary policy, financial stability, and new technology. These are also key topics for discussion in today’s conference sessions.
Challenges for the RBI Governor
Shaktikanta Das hinted at the impact of the U.S. Federal Reserve’s interest rate cuts and recent decisions by the Bank of Japan and China’s central bank. He stressed that, due to shared risks and interests in the global economy, India’s central bank must carefully consider its actions. It is important to note that on October 9, the RBI announced its monetary policy decisions, which included keeping the repo rate unchanged.
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