Das said the central bank will provide a backup "if individual banks require additional liquidity"
After the customary post-budget meeting with Finance Minister Nirmala Sitharaman, he said the system has sufficient liquidity and the Budget for 2019-20 has made provision for NBFC sector
The central bank receives data from banks, various other financial companies, as well as from the markets, says RBI Governor
Shaktikanta Das said companies in the crisis-hit non-banking finance companies need to develop on 'prudent lines' and focus on asset liability management
The probability of Shaktikanta Das continuing and completing the tenure should be extremely high
The RBI governor advocated a 25 basis points cut, showed minutes of the MPC
Asked about structural reforms in India in the past few years, the RBI governor listed the implementation of the GST and the IBC, among others.
The growth-focused governor, under whose chairmanship the MPC executed two back to back rate cuts of 25 basis points each since February, said India needs to grow at 8% to eliminate poverty
Das was on December 11, 2018 named as the Reserve Bank of India (RBI) Governor by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi for three years
Das said the RBI encouraged banks to explore new alliances with fintech firms as it could be pivotal in accelerating the agenda of financial inclusion
He also called for a 'permanent status to finance commissions' where the old commission continues to implement schemes till the next commission starts functioning
Shaktikanta Das has been pragmatic and more accommodative of the financial market's concerns even as he keeps his counsel
Reserve Bank Governor Shaktikanta Das Friday said credit rating agencies play a critical role in the stability and efficient functioning of the financial sector. Das Thursday held a meeting with top officials of credit rating agencies as part of stakeholder consultation exercise. "Credit Rating Agencies (CRAs) have a critical role in the financial sector, its stability and efficient functioning. Held a meeting with MD/CEOs of CRAs yesterday as part of stakeholder consultation," he tweeted. Domestic credit rating agencies include Care, Icra and India Ratings and Research. CRAs have off late come under criticism for failing to timely identify the stressed assets of IL&FS, which saw a series of defaults in loan repayments.
Commenting on mergers in the banking space, Finance Minister Arun Jaitley said India needs fewer and mega banks which are strong
Das is distinctly dovish as RBI's inflation projection is benign and he wants to seize the opportunity to support growth. And, this may not be the last rate cut
RBI is scheduled to announce its sixth bi-monthly monetary policy for 2018-19 on February 7. It would be the first monetary review under the new RBI Governor
In the run-up to Urjit Patel's resignation last month, multiple stakeholders, including government ministers, had complained about the RBI not listening to industry concerns
The NBFCs suggested that the RBI should reduce the minimum holding period to 3 months for loans having maturity of 2-5 years
Shaktikanta Das completes one month as governor of the Reserve Bank of India on Friday. Here is a list of things he has promised and done in a month.
Das did not rule out the central bank paying interim dividend to the government, but said no decision had been taken yet on the amount to be given