Summary:

RBI Governor Sanjay Malhotra expressed confidence in India's economic growth, stating that a 7% growth rate is achievable and should be a national goal. His remarks followed the Monetary Policy Committee’s (MPC) decision to cut the repo rate by 25 basis points to 6.25%, marking the first reduction in five years. The RBI maintained its GDP projections at 6.6% for FY25 and 6.7% for FY26, prioritizing growth while managing inflation and ensuring financial stability.

Governor Sanjay Malhotra reaffirmed the RBI's commitment to consumer protection, emphasizing that bank mis-selling and fraud cases will be addressed strictly. Deputy Governor Swaminathan J. stated that most regulatory concerns are resolved bilaterally, with only serious infractions made public. The RBI aims to reduce compliance costs, ensure the smooth implementation of LCR regulations, and introduce new web domains for banks and NBFCs to combat fraud.

Source: IBEF

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.