Indian economy better placed to deal with any challenge, says RBI Governor


MUMBAI: The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said the RBI will continue to ensure adequate liquidity to support the economy, which is facing many headwinds in the form of soaring crude oil and key commodity prices following the Russian invasion of Ukraine.

Das, while addressing an industry meet organised by CII here this evening, said since the pandemic-hit the economy in March 2020, the central bank has pumped in a whopping Rs 17 lakh crore into the economy and assured the industry that the RBI will continue to ensure that the economy is well oiled with funds.

The governor further said banks at the system level are in better health now with the capital adequacy ratio at 16 percent, and gross NPAs falling to a record low of 6.5 percent.

He said despite the headwinds arising from the Russia-Ukraine war, the economy is better placed given the high forex reserves and low current account gap.

“We are comfortably placed to deal with any challenges with regard to financing the CAD, and the RBI stands committed to deal with any challenges on this front,” he said. (PTI)