Shaktikanta Das’ 1st message: I will try everything to uphold core values, autonomy of RBI

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Updated: December 12, 2018 4:34:22 PM

Hours after assuming charge as the governor of Reserve Bank of India (RBI) Shaktikanta Das, in a press conference, said that he will try everything to uphold the core values and autonomy of the central bank.

Hours after assuming charge as the governor of Reserve Bank of India (RBI) Shaktikanta Das, in a press conference, said that he will try everything to uphold the core values and autonomy of the central bank. Hours after assuming charge as the governor of Reserve Bank of India (RBI) Shaktikanta Das, in a press conference, said that he will try everything to uphold the core values and autonomy of the central bank.

Hours after assuming charge as the governor of Reserve Bank of India (RBI) Shaktikanta Das, in a press conference, said that he will try everything to uphold the core values and autonomy of the central bank. Shaktikanta Das also said that he will hold consultations will stakeholders to understand the issues. “It’s the banking sector, I would like to focus on it immediately,” he told reporters.

Shaktikanta Das was appointed on Tuesday as the 25th governor of the central bank by the Narendra Modi government a day after Urjit Patel stepped down. While Urjit Patel said he was stepping down due to personal reasons, his decision followed simmering tension with the government on many contentious issues such as RBI’s reserves and lending restrictions on weaker banks.

Shaktikanta Das, while refusing to answer questions on specific issues that have been contentious lately, made quick references to inflation, economic growth and banking crisis norms. “Inflation outlook looks fairly benign and within the target at this stage, but we will have to be watchful,” he said.

The new governor also backed consultation-based decision making and said the decision on RBI’s capital reserves will be taken after the formation of the committee, taking the view of the chairman or the head of the committee.

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