Currencies

Finance Minister Nirmala Sitharaman: Re Less Volatile Than Other Currencies: Fm | Mumbai News

Mumbai: Finance minister Nirmala Sitharaman said that the rupee has exhibited greater stability compared to its counterparts even as yields in govt securities market have stabilised, thanks to RBI’s measures building investor confidence.The finance minister was speaking at a function to commemorate RBI’s 90th anniversary. “In the past few years, India’s capacity to manage and take care of external imbalances and uncertainties has significantly improved purely because of the professional management of RBI,” she said.The finance minister’s statement comes at a time when govt and the central bank are working on internationalisation of the rupee. Sitharaman said that RBI stands tall among its peers on several counts. “When Covid hit, RBI adopted and deployed a conventional and unconventional range of instruments to provide liquidity and to promote growth and ensure financial stability.”Sitharaman cited the moratorium on loan repayments and the infusion of liquidity. “RBI was among the earliest to recognise the non-transient nature of inflation and front-load interest rate hikes,” she said, adding that forex management is also an area where RBI has done exemplary work by building up reserves.She emphasised the global recognition of RBI’s contributions by citing the acknowledgement from the Bank of International Settlements. This recognition specifically commended RBI’s role in anchoring inflation expectations through its effective communication policies.

We also published the following articles recently

‘Indian economy making new records when several economies are struggling’: PM Modi at RBIs 90th anniversary ceremony

PM Modi highlights India’s path to economic self-reliance in a decade at the RBI anniversary, emphasizing job creation, financial stability, GDP growth, and development in sectors like defense exports and space industry.

PM Modi to speak at a ceremony in Mumbai on April 1 commemorating 90 years of RBI

PM Modi’s visit to Mumbai on April 1, 2024, celebrates 90 years of RBI. Nirmala Sitharaman and Shaktikanta Das will address the event. RBI, founded in 1935, plays a crucial role in India’s financial landscape.

RBI relaxes alternate fund norms for lenders

RBI relaxes AIF norms, no full provisions needed, only for bank’s investment in AIFs further invested in debtor company. No impact on investments through intermediaries like fund of funds. Mention of private equity and venture capital investments.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.


    Input this code: captcha