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RBI governor Shaktikanta Das addresses SBI Conclave: Key points

RBI governor Shaktikanta Das addresses SBI Conclave: Key points

Reserve Bank of India (RBI) governor Shaktikanta Das addressed the seventh SBI Banking and Economics Conclave on Saturday amid the ongoing Covid-19 crisis. The central bank governor also spoke about on the health as well as economic crisis which have impacted jobs badly.

Covid-19 is the worst health and economic crisis in last 100 years with unprecedented negative consequences for output, jobs & well being. It dented the existing world order, global value chains, labour and capital movements across globe: Shaktikanta Das
Covid-19 pandemic perhaps represents so far the biggest test of robustness aand resilience of our economic and financial system: RBI governor

From February 2019 onwards, on cumulative basis, we had cut the repo rate (rate at which central bank lends money to banks) by 135 basis points till the onset of Covid-19. That was done mainly to tackle the slowdown in growth which was visible at that time and we had elaborately touched upon its in our MPC Resolutions: RBI governor
The topmost priority for RBI is growth; financial stability is equally important: Das.

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