Reserve Bank of India (RBI) Governor Shaktikanta Das quoted Netaji Subhas Chandra Bose as he concluded his monetary policy statement to highlight how the Indian economy is equipped to deal with future challenges. Das pointed out to how the economy dealt with challenges in the last three years since the beginning of the pandemic.
“India has the inherent strength and enabling policy environment and strong macroeconomic fundamentals and buffer to deal with future challenges. I am reminded here of the words Netaji Subhas Chandra Bose, ‘Never lose your faith in the destiny of India’,” Shaktikanta Das said in his last monetary policy statement on this financial year.
Das is known to quote prominent personalities or offer a punchline to convey his message on the state of the economy. This is not the first time he has delivered a memorable line during the monetary policy statement presentation. During his speech in December 2022, he had said, “We will keep an Arjuna’s eye on inflation and we will be ready to act. Our actions will be nimble.”
In April 2022, concluding his monetary policy statement which lasted nearly an hour, Das quoted Mahatma Gandhi, saying “It is faith that steers us through stormy seas, faith that moves mountains and faith that jumps across the ocean.”
Read - Arjuna's eye, Lata Mangeshkar, Gandhi: RBI governor is a quote hunter’s delight
The RBI chief has quoted icons such as Lata Mangeshkar, Martin Luther King and Dr APJ Abdul Kalam in his past speeches.
The central bank on February 8 hiked repo rate, the rate at which it lends short-term funds to banks, by 25 basis points, citing sticky core inflation.
This is the sixth time interest rate has been hiked by the RBI since May last year, taking the total quantum of hike to 250 basis points.