SHAKTIKANTA DAS

Reserve Bank of India (RBI) governor Shaktikanta Das will on Friday unveil decisions taken at the central bank's latest 3-day Monetary Policy Committee (MPC) meeting. At the previous meeting, in August, the MPC decided to retain the policy repo rate at 6.50%. The standing deposit facility rate is 6.25%, the Marginal standing facility rate: is 6.75%, the Bank rate: is 6.75%, and the fixed reverse repo rate: is 3.35%.

The Reserve Bank of India raised concerns over the growing unethical loan recovery practices, usurious interest rates and data privacy issues, on September 21. It also flagged certain material concerns regarding the mushrooming of digital lending apps. Amid the need of the hour to ensure safety following a process of whitelisting and due diligence by the regulated entities, the RBI Governor Shaktikant Das raised the concerns.

Taking a strong opposition on digital "crypto currency", RBI Governor Shaktikanta Das, on February 10, said, "Private crypto currency or whatever name you call is a big threat to our macroeconomic stability and financial stability". Furthermore, the RBI Governor asked investors to be careful and said, "Investors in crypto currency should keep in mind that they are investing at their own risk". Meanwhile, Government is yet to announce the… read-more

As the private cryptocurrency spreading its legs in India, RBI governor Shaktikanta Das once again raised his concerns over it while speaking at a press briefing on September 9. Das also said he alerted the government about the growth in private cryptocurrencies in the Indian economy. Earlier in February, Das had also raised the concern over the currency saying it could major risk to the financial stability.

The Reserve Bank of India has announced Rs 50,000 crore under the priority sector lending for the COVID-related health infrastructure. RBI Governor Shaktikanta Das on May 5 said that the amount will be dispersed till March 31, 2022, and it will be used for hospitals, oxygen suppliers, vaccines and drugs among other COVID requirements. Besides, he stated that banks will be creating a COVID-19 loan book for this purpose.