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The Reserve Bank of India is positioning itself to offer an enabling atmosphere the place regulated entities are catalysed to take advantage of these new avenues whereas sustaining and preserving monetary stability.
Reserve Bank of India Governor Shaktikanta Das on Saturday mentioned the monetary stability is a public good, and its resilience and robustness must be preserved and nurtured by all stakeholders.
Delivering the thirty ninth Nani Palkhivala memorial lecture by means of a digital platform, he mentioned the central financial institution has directed its coverage efforts to place in place a state-of-the-art nationwide funds infrastructure, guaranteeing secure, safe, environment friendly and cost-effective strong funds ecosystem.
The regulated entities on their half must strengthen their inner defences to determine rising dangers early and handle them successfully, Mr. Das added.
“Financial stability is a public good and its resilience and robustness need to be preserved and nurtured by all stakeholders. We need to support economic revival and growth, we need to preserve financial stability,” he mentioned.
‘Easing COVID impact’
Mr. Das mentioned the 12 months 2020 might be marked as one of many hardest durations for human society attributable to COVID-19 and the insurance policies adopted by the central financial institution have helped in easing the severity of the financial impression of the pandemic.
“The year bygone could be marked as one of the toughest periods for human society. The unprecedented health and economic catastrophe caused by the COVID-19 pandemic has exposed and widened economic and social fault lines across countries”, Mr. Das mentioned.
“It is essential to evolve a prudent and judicious approach towards managing the financial system not only during the pandemic but also in its aftermath”, he famous.
With the principal goal in the course of the pandemic to assist financial exercise, Mr. Das mentioned, “looking back, it is evident that our policies have helped in easing the severity of the economic impact of the pandemic”.
“I would like to unambiguously reiterate that the Reserve Bank remains steadfast to take any further measures, as may be necessary, while at the same time remaining fully committed to maintain financial stability,” he added.
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