On Wednesday, Reserve Bank of India governor Shaktikanta Das said that the improvement in economics has not reached a full pace, which will gradually move forward. The availability of large amounts of cash in the Reserve Bank of India has ensured large scale borrowings for the government at a lower rate and without any problem. The central bank is fully prepared for whatever steps will need to be taken to improve economics.
Addressing the meeting of FICCI's National Executive Committee, the central bank chief said that economic reforms have also not been fully implemented. This is the first time in the last decade when the borrowing cost has been so low. He said that with the availability of the highest liquidity, the borrowing cost of the government remains very low and the bond returns are at a lower level of the last 10 years.
Not only that, but he also said that education contributes to economic development, but the new education policy is also historic and is essential for new-age reforms. The private sector should play an important role in research, innovation, tourist, food processing space in advancing economics. It may be noted that many rating agencies have predicted a decline in India's growth rate in the current financial year. This statement of the RBI is very important.
SBI changes ATM money withdrawal rules
UP Minister Jai Prakash Nishad will be questioned in livestock scam
New facility for SBI customers to know credit scores, CEO informed