New Delhi, December 10, 2024: Outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that restoring the balance between inflation and growth is the most important challenge facing the central bank. On his final day as RBI Governor, Das stressed that addressing inflation while fostering economic growth is crucial for India’s future economic trajectory. Despite global challenges, he expressed confidence in India’s strong economic resilience, noting the country’s ability to effectively navigate global economic spillovers.
Das also discussed the evolving role of the RBI under the leadership of his successor, Sanjay Malhotra, who will assume the position of Governor. He expressed hope that Malhotra would continue key initiatives, including the development of Central Bank Digital Currency (CBDC) and further advancements in financial inclusion. Additionally, Das highlighted the necessity for the central bank to adapt to emerging technologies and cybersecurity threats in an increasingly digital financial landscape.
As the RBI continues its mission to ensure price stability, Governor Das underscored that controlling inflation is critical but must be achieved without stifling economic growth. His remarks follow the RBI’s recent decision to maintain the repo rate at 6.5%, signaling the central bank’s commitment to balancing the complex needs of managing inflation and supporting growth.
