The Reserve Bank of India has kept rates unchanged for five straight policy meetings, with inflation still above target. Rate cuts will depend on domestic factors, not the actions of the Federal Reserve.
The Indian economy is expected to touch real GDP growth of seven per cent next year, Reserve Bank of India Governor Shaktikanta Das told NDTV Thursday on the sidelines of the World Economic Forum in Davos.
Das said consumer price index (CPI) inflation has moderated from a peak of 7.8 per cent immediately after the onset of the Ukraine-Russia war and has come within the RBI’s target range of 2-6 per cent.
RBI Governor Shaktikanta Das has steadfastly maintained over the years that cryptocurrencies pose a palpable threat to currency and monetary stability and could be the source of the next major global financial crisis.