June 17, 2022
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1:09Now PlayingGovernor Shaktikanta Das defended the policy steps on Friday, denying that the RBI was behind the curve, saying that focusing on inflation control earlier would have had "devastating" consequences for the economy. Mr. Das said, addressing at a Financial Express event here, that "tolerance of high inflation was a requirement," and that "we stand by our judgement." He added that the central bank was in tune with the needs of the economy, and that the RBI's statutes clearly state that inflation must be managed while keeping the growth scenario in mind. In the face of the pandemic, the RBI shifted its focus to growth and provided easy liquidity. Despite this, the economy shrank by 6.6% in fiscal year 21.
#RBI #Inflation #LatestNews
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