new Delhi. Addressing the Indian industry on Monday, Reserve Bank of India (RBI) Governor Shaktikanta Das said that the environment is now becoming favorable to the Indian economy. He said that India needs policies to continuously increase agricultural income. The recent reforms in the agricultural sector have created many new opportunities.
The Governor said that at this time there is a great need for India to focus on early completion of free trade agreements with the US and other countries. He said that increasing the work in the infrastructure sector will boost economic growth and both public and private sector should play a major role in the development of this sector.
Shaktikanta Das said that the Reserve Bank has no set target for the exchange rate of currency, but we are keeping an eye on unnecessary variation. He said that new developments have appeared in the bond market, with corporate bonds worth about one lakh crore rupees being issued in the first quarter.
The Governor assured the industry that the Reserve Bank is fully alert and will not be taken aback whenever steps need to be taken. He said that banks have been advised to test their ability to withstand pressure in adverse conditions and raise capital to meet the challenges.
This post was published on July 27, 2020 2:25 pm
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