Stopping rate hike is not in my hands, it will depend on the situation: RBI

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Reserve Bank of India Governor Shaktikanta Das has made it clear that it is not in the hands of RBI to stop the hike in interest rates. Speaking at the annual meeting of CII, the RBI governor said that the rate hike would depend on the situation going forward. It is not in our control to stop it.

On the other hand, speaking on inflation, Governor Shaktikanta Das said that carelessness cannot be taken regarding the situation of inflation. RBI is constantly trying to reduce inflation. Das said that if we look at the figures of the past few times, inflation has come down, but more work needs to be done in this direction. There can be no laxity on the inflation front.

Indian banking sector in a strong position

Reserve Bank of India Governor Shaktikanta Das said that India’s banking sector is in a strong position. There is no dearth of liquidity in the market. However, the turmoil in the US banking sector continues. But there is no worrying situation in Indian banks. Talking about the rupee, Shaktikanta Das said that it is not our aim to make it a global currency, but RBI is continuously working on it.

GDP growth is expected to pick up

Speaking on the country’s GDP, Shaktikanta Das said that India’s GDP growth is expected to accelerate further. RBI’s GDP estimate for the current year 2022-23 is 7 percent. Although it can last longer than this.