‘Bad phase of inflation is behind us, no problem due to dollar’s strength’, says RBI Governor

Shaktikanta Das on Inflation: On the one hand, the opposition is continuously targeting the government regarding inflation in the country, while on the other hand, Reserve Bank of India Governor Shaktikanta Das is saying that we have left behind the bad times of inflation. He has claimed, “Our financial sector is stable and the bad phase of inflation is behind us.”

Along with this, he said, “Our external debt is manageable and there is no problem with the strength of the dollar.” The RBI governor called for coordinated efforts by the G20 to help countries with high external debt exposure due to the appreciation of the dollar. He said that the G20 countries should provide financing on a war footing to the countries most affected by climate change.

Governor on the financial crisis in America

He further said that the ongoing crisis in the US banking sector clearly shows how private cryptocurrencies pose a risk to the financial system. He said that excessive deposit and loan growth is not a good thing for the banking system.

Shaktikanta Das got the title of Governor of the Year

Shaktikanta Das, Governor of the Reserve Bank of India (RBI) year 2023 Awarded with the ‘Governor of the Year’ award for The International Economic Research Journal Central Banking gave this title to Das. Former RBI Governor Raghuram Rajan was honored with this award for the first time from the country in 2015.

The central banking has praised Das for providing steady leadership during challenging times. The magazine said that Governor Shaktikanta Das’s strong and efficient leadership in times of rising inflation caused by the collapse of a major non-bank firm, the first and second wave of the Kovid-19 pandemic and Russia’s invasion of Ukraine is praiseworthy.

read this also: Cryptocurrency: RBI Governor Shaktikanta Das spoke about the risk of crypto, the need for an international framework


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