RBI's Shaktikanta Das on India's Resilient Economic Path Despite Global Pressures

Reserve Bank Governor Shaktikanta Das emphasized India's economic resilience amid global challenges, highlighting strong macroeconomic fundamentals and a stable financial system. He discussed the country's robust forex reserves, a draft framework for Expected Credit Loss, and ongoing measures to maintain financial stability, while addressing cyber risks.

Reserve Bank of India Governor Shaktikanta Das on Thursday highlighted India's economic resilience amid global challenges. Speaking at a CNBC-TV18 event, Das reaffirmed the country's strong macroeconomic fundamentals and stable financial system, emphasizing their role in navigating global economic headwinds.

Das acknowledged the challenges posed by rising bond yields and geopolitical risks but praised India's buffers, including its robust foreign exchange reserves. The forex reserves stand at USD 682 billion, capable of covering external debt and import payments for a year, he noted.

His remarks also touched on regulatory matters, including the Expected Credit Loss framework. Das announced upcoming draft guidelines and reiterated RBI's focus on financial stability, cyber security, and sustainable growth, ensuring a balanced approach to economic growth and financial sector integrity.

(With inputs from agencies.)