Post-budget RBI Board Meeting Highlights: The RBI's central board of directors met for its customary post-Budget meeting on February 11. Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das held a press conference after the conclusion of the meeting.
Das said that real interest rates have just come into positive territory and persistence of negative real rates can create risks which must be avoided. The RBI's rate hikes are part of the process of maintaining price stability. It is up to banks to decided their rates, he added.
FM Sitharaman highlighted that the new income tax regime has effectively left more money in the hands of the people, so it is up to the person to decide what to do with their money, to save or spend.
There was nothing on crypto in the Budget. But our discussions in G-20 are ongoing and we are talking to all countries about whether a standard operating procedure can be created. Just one country can't regulate crypto on its own, said Finance Minister Nirmala Sitharaman.
India's balance of payments situation is manageable. The merchandise export target of $400 billion for this year is achievable, said RBI Governor Shaktikanta Das.
Real interest rates have just come into positive territory. Persistence of negative real rates can create risks which must be avoided. The RBI's rate hikes are part of the process of maintaining price stability. It is up to banks to decided their rates, said RBI Governor Shaktikanta Das.
The new income tax regime has effectively left more money in the hands of the people. So it is up to the person to decide what to do with their money, to save or spend. Why should the government induce anything or discourage anything?, said FM Sitharaman.
India's regulators are very, very experienced. They are experts in their domain. So they are seized of the matter, said Finance Minister Nirmala Sitharaman on theAdani-Hindenburg row.
The global economic outlook doesn't look as grim as it was six months ago. Talk is now of a softer recession or just a slowdown, said RBI Governor Shaktikanta Das.
We have assumed $95 per barrel as crude oil price for our inflation forecast. The forward market is giving a benign picture, but we have been conservative. So things could work in our favour in terms of lower inflation, said RBI Governor.
''Whenever we get an application from entities for any licence or activity, we have to conduct checks regarding things like fit and proper criteria. For this we need inputs from other agencies, including those overseas. This can take time. Our endeavor is to stick to timelines, but there can be a delay sometime,'' said RBI Governor Shaktikanta Das.
The RBI's central board of directors met today for its customary post-Budget meeting, which had Finance Minister Nirmala Sitharaman in attendance, along with the two ministers of state for finance.
FM Sitharaman addresses the Central Board of Directors of the RBI along with Shaktikanta Das in its customary post-Budget meeting in New Delhi. Minister of State for Finance Dr Bhagwat Karad and Secretaries of Finance Ministry are also attending the meeting.
RBI Governor Shaktikanta Das to hold press conference with Finance Minister Nirmala Sitharaman after RBI board meeting on February 11, 2023
