RBI Governor Shaktikanta Das highlighted India's stable financial system and resilience amid global challenges at the CNBC-TV18 Global Leadership Summit. He noted that India's fourth-largest foreign exchange reserves provide 12 months of import cover, underscoring confidence in the economy. Das discussed the RBI’s balanced approach to interest rate changes, aiming to avoid excessive or insufficient measures. He reaffirmed the RBI’s commitment to price stability and prudent financial management. The bank is also assessing the climate risk impact on the financial system and reviewing the Expected Credit Loss (ECL) framework with guidance from an external committee.
first published: Nov 14, 2024 05:12 pm
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