RBI stands tall among its peers

RBI stands tall among its peers on several counts. ,” Financial Minister Nirmala Sitharaman said at the event of RBI’s 90th commemoration function.

A once-in-a-century pandemic, COVID, hit us. The RBI adopted, and in fact, deployed, a conventional and unconventional range of instruments to provide liquidity and to promote growth and to ensure financial stability.

“In the past few years, India’s capacity to manage and also to take care of external imbalances and uncertainties have significantly improved purely because of the professional management of the RBI,” she said.

“A decade ago, we had a balance sheet problem, today (there) is a balance sheet advantage and that advantage to our economy. Collaborative efforts to the government of India and RBI, the asset quality management, Prompt Corrective Action framework are all great functions, well carried out by our true regulator of the banks,” Sitaraman said.