RBI Governor Shaktikanta Das's big statement on revival of economy

New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das last Wednesday launched former bureaucrat and current Chairman of the Finance Commission N K Singh's book Portraits of Power: Half a Century of Being at Ringside. In the meantime, he said that due to liberal and favourable monetary and fiscal policies of the Government and the central bank, India stands at the threshold of economic revival.

He said, "We have reached the threshold of economic revival. It becomes necessary that financial units have enough money to support growth". He said that many economic units have already deposited capital, some are preparing to raise capital. He said that he will definitely collect capital in the coming months. He said that as soon as the corona epidemic is over, the Reserve Bank will ask all banks and non-banking financial companies (NBFC) to internally analyse the pressure on them.

The SBI Governor said, "As far as pressure is concerned, I myself have interacted with banks and NBFC. Their activism has impressed us in the need to provide adequate capital to our financial units and create a buffer of capital." He also said that the process of capitalization will not only strengthen the flexible approach of tackling their economic pressures but also provide adequate funds to increase them while maintaining the flow of credit.

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