Reserve Bank (RBI) Governor Shaktikanta Das has made a big deal about the economy. He has claimed that India stands at the doorstep of the Economic Revival due to the liberal and favorable monetary policies of the government and the RBI.
Shaktikanta Das was speaking on the occasion of the release of the book Portraits of Power: Half a Century of Being at Ringside by NK Singh, the current chairman of the Finance Commission.
‘Capital condition in financial institutions has improved’
In this event Shaktikant Das said that ‘We have almost reached the threshold of economic revival. In such a situation, it becomes necessary that financial institutions have sufficient capital to support growth. He said that many companies have already raised capital, some are planning to raise capital, which will also raise in the coming few months.
‘Will analyze the pressure on banks’
Shaktikanta Das said that as soon as the coronavirus pandemic comes to an end, the Reserve Bank will ask all banks and non-banking financial companies (NBFCs) to conduct an internal analysis of the pressure on them.
He further said that as far as pressure is concerned, I myself have talked to banks and NBFCs about this. The need to provide adequate capital to our financial units and create a buffer of capital has influenced us. ‘
‘Get out the tools that didn’t exist’
RBI Governor said that India has to choose the path of fiscal expansion to meet the challenges of Kovid-19. The government has taken several steps to provide financial help to the weaker sections of the society. After this, some relief has also been provided to the industry and business class. As far as the central bank is concerned, we are already doing monetary expansion. In fact, we have taken many such steps which in reality are not included in the tools of the Reserve Bank.