Shaktikanta Das Praises Coordination Between RBI and Finance Ministry
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Mumbai, Dec 10 (NationPress) The Reserve Bank of India and the Finance Ministry have maintained a relationship characterized by exceptional coordination and cooperation over the past six years, as stated by outgoing RBI Governor, Shaktikanta Das, during his farewell address on Tuesday.
He mentioned, “While the viewpoints of the central bank and the Finance Ministry may occasionally differ, I believe we have successfully navigated these differences during my tenure.”
Das emphasized that achieving a balance between inflation and economic growth remains a crucial objective for the Reserve Bank.
Governors must consider the needs of the wider economy when making decisions, and ultimately, every decision is a judgment call, he added.
He also underscored the extensive consultative approach and the focus on financial inclusion throughout his six years in office.
During his tenure, Shaktikanta Das introduced several innovative products related to UPI, which he described as a leader in the global payments ecosystem. He expressed his eagerness to monitor the nationwide implementation of the Unified Lending Interface, a digital platform designed to enhance and expedite the loan approval process. The ULI aims to assist borrowers in obtaining credit while allowing lenders to handle customer information more efficiently.
He noted that the supervisory techniques of the central bank have significantly advanced and are now much sharper.
“We have prioritized cyber security. This is an ongoing task and will continue to pose challenges for every central bank, including the RBI,” Shaktikanta Das stated during his interaction with journalists at the RBI headquarters in Mumbai on his last day at work.
In a series of posts on X, he expressed his gratitude for the support he received from the Prime Minister, Finance Minister, and stakeholders in the financial sector.
“I will be stepping down as Governor of the RBI later today. Thank you to everyone for your support and good wishes,” Das wrote on the social media platform.
The government has appointed senior bureaucrat Sanjay Malhotra as the new governor of the RBI, who assumed office on Tuesday. Malhotra is an Indian Administrative Service officer from the 1990 batch of the Rajasthan cadre, with his most recent role as Revenue Secretary in the Ministry of Finance.
