RBI Governor Shaktikanta Das Highlights: The Reserve Bank of India Governor Shaktikanta Das said that banking system needs to reorient business in the post coronavirus world by looking within. Shaktikanta Das said that financial institutions face challenges ahead, nudged by the pandemic, he however stressed that the banking system in India at the juncture is resilient enough. The country’s top money manager said that the banks need to focus on risk management in an effort to trim down bank frauds. Shedding light on the decisions of the RBI during the pandemic, he said that the loan moratorium was a temporary solution to the system.
The central bank, earlier this month held interest rates due to the rising inflation at its monetary policy committee. In an effort to control the liquidity in the system, the RBI has this week announced another operation twist where it will buy and sell government debt worth Rs 20,000 crore. The first tranche of this buying and selling will happen today.