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Growth is highest priority, every policymaker concerned with it: RBI's Das

Das said that weaker-than-expected growth with signs of a slowdown was the key risk to global financial stability, though banks were more resilient to shocks

PTI | BS Web Team 

RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das. File photo

Growth is the highest priority as of now and every policymaker is concerned with it, said Reserve Bank of India (RBI) Governor on Monday.

Das was giving the inaugural address at the FIBAC 2019, held at the Trident Hotel in Mumbai.

Das said that weaker-than-expected growth with signs of a slowdown was the key risk to global financial stability, though banks were more resilient to shocks.

The Governor also said that Insolvency and Bankruptcy Code (IBC) amendments would help ring-fence banks.

Further, Das said that he wanted state-run banks to access capital from markets rather than depending on the government.

Das also said that the was keeping a close watch on the interconnectedness of banks and non-banking finance companies.

Further, Das said that all regulations put in place by the National Housing Bank (NHB) would continue for housing-finance companies (HFCs), adding that the was reviewing some of the norms.

The RBI governor called for an urgent review of corporate governance at state-run banks.

The governor also said he expected more banks to move to repo-linked loan and deposit pricing, and wanted faster lending rate cuts.

First Published: Mon, August 19 2019. 11:42 IST
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