“Aaj phir…..”: RBI chief’s message of hope with Lata Mangeshkar song

RBI Governor Shaktikanta Das presented the monetary policy statement. (Image credit: ANI/Twitter)

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday quoted music legend Lata Mangeshkar as he expressed confidence in economic stability and growth for India during the coronavirus pandemic.

“We are living in a world of uncertainty. In the absence of the knowledge of the next mutation of COVID-19, the ability to forecast the future course of the economy is so contingent on the evolution of the virus that one progress is as good or as bad as the other,” Shaktikanta Das said as he was giving the monetary policy statement.

'Aaj phir jeene ki tamanna hai,' says @RBI Governor @DasShaktikanta as he quotes #LataMangeshkar's iconic song.

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Last 2 years have taught us to be humble & grounded in self believe and never losing confidence & optimism, he adds. pic.twitter.com/zDPOOAvAxg

— CNBC-TV18 (@CNBCTV18News) February 10, 2022

“If the last two years of living with the virus have taught us anything, it is to remain humble but grounded in self-belief, never losing self-confidence and optimism. As the great late Lata Mangeshkar, whom we lost recently, sang in her immortal voice, ‘Aaj phir jeene ki tamanna hai…’,” he said, quoting Mangeshkar’s song from the 1983 film, “Qayamat”.

"Together with the spirit behind the next line of this beautiful song, she has conveyed an eternal message of optimism. We in the Reserve Bank have to remain steadfast in our commitment to self-guard trust and confidence in the domestic financial system as we rebuild the foundations of strong and sustainable growth."

Lata Mangeshkar died at Mumbai’s Breach Candy hospital on Sunday after being admitted to its intensive care unit on January 11 with COVID-19 symptoms. She was 92.

The Monetary Policy Committee (MPC), headed by the RBI chief, kept key interest rates unchanged and retained the accommodative stance in its first policy meeting after Union Budget 2022. This is the tenth time in a row that the committee has maintained the status quo.

Formulated and conceived by the RBI, the monetary policy details the monetary matters and policies of the country. These matters include regulating the supply and availability of money in the Indian market and the credit scenario and its cost in the economy.