Malhotra wants industry to invest boldly
Sanjay Malhotra, Governor, Reserve Bank of India (RBI) has emphasized that financial stability and price stability are essential for sustainable economic growth across the country.
“I look forward to working with regulated entities to improve their efficiencies and effectiveness of our financial sector to ensure the benefits reach the people of our nation,” he said on 25 Aug in his address to ‘FIBAC 2025‘, organized jointly by FICCI and IBA.
“On the demand side, I would urge the industry to invest boldly and champion the entrepreneurial spirit that defines our nation. Banks and corporates should come together and drive the animal spirit to create an investment cycle which is important at this juncture,” he stressed.
The Governor while speaking on the India’s macro-economic conditions said that India is currently at a critical juncture as we navigate the choppy global economic environment. “We need to push the frontiers of growth and seize the opportunities coming our way. Indian economy has expanded many folds, and it continues to be a symbol of resilience and hope,” he asserted https://www.bseindia.com/.
The RBI Governor further stated that the primary objective of monetary policy in terms of price stability has significantly contributed to the strength of India’s macroeconomic fundamentals. “At the same time, the Reserve Bank has not lost sight of the objective of growth. We will continue to conduct monetary policy with the primary objective of price stability keeping in view the objective of growth,” he noted.
He also highlighted that RBI will endeavour to enhance ease of doing business. “We are in the process of consolidating all the regulations for various categories of regulated entities. In our pursuit of making principle-based framework, we have given autonomy to the board of the respective entities to frame policies,” said Malhotra https://www.nseindia.com/.
The Governor added that RBI will propose to set up a Regulatory Review Cell with the mandate to review each regulation in a comprehensive, objective, systematic and structured manner http://commerce.gov.in.
“The objective of the review shall be to assess each regulation with focus on efficiency; its impact in terms of cost and benefit; its requirement in the current context and market realities; consistency and clarity especially across different regulations; and potential of unaddressed or emerging risks, among other,” he said https://sbi.com.in/.
“The Cell shall organise its work in such a manner that each regulation is reviewed at least once in every 5-7 years. The Cell will interact with major financial sector industry bodies,” he emphasized. Fiinews.com
