Indian economy is sailing through smoothly due to stable financial system: RBI Governor

Indian economy is sailing through smoothly due to stable financial system: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das on November 14 said Indian economy is sailing through smoothly due to stable financial system.

Speaking at CNBC-TV18 Global Leadership Summit, Das said, "In this challenging environment, government bond yields are rising globally even as many advanced economies have taken the easing path. In recent years, the global economy has gone through unprecedented shocks. Central banks across the world resorted to near synchronous tightening in response to the shocks. "

"Global trade is projected to remain higher this year. Indian economy is sailing through smoothly due to stable financial system. Emerging market economies are showing more resilience. Our primary focus has been to maintain financial stability for growth and prosperity," added Das.

Amid expectation of interest rate cut by RBI, Das said, "The challenge for central bankers has always been between doing too little or too late on the one hand, and too much and too early on the other."

"Monetary policy coming up in the first week of December. Will reserve my comments," said RBI Governor minutes after Commerce Minister Piyush Goyal pitched for interest rate cut at the same event.