New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das said that we are discussing with the government about the privatization of public sector banks and after that, the process will be taken forward. He also said that RBI is committed to using all its policy measures to revive the economy while maintaining price and economic stability.
Significantly, Union Finance Minister Nirmala Sitharaman had proposed the privatization of two public sector banks and one general insurance company while presenting the budget of 2021-22 on February 1. Responding to a question, the RBI governor also said that economic revival should continue uninterrupted, with RBI's 10.5 percent growth projections for FY 2021-22 seem unlikely to be needed.
Emphasizing the need for innovation in the financial sector for better delivery of services, Shaktikanta Das called for effective regulation that promotes innovation. During the Times Network India Economic Conclave, the RBI governor said, 'RTGS and NEFT facilities are now available 24 hours a day. RTGS has the ability to transact in different currencies. There is a need to consider the possibility of whether its scope can be extended beyond India as well.
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