In an unique interview with Zee Enterprise Managing Editor Anil Singhvi on Friday, RBI Governor Shaktikanta Das spoke on host of subjects, together with inflation, rupee depreciation, time lag between hike in lending and deposit charges, GDP progress estimates and extra.
Talking on inflation, the Governor stated it has peaked out in India and can quiet down finally. “Inflation is a global phenomenon. In India, it has peaked and will come down gradually over time. Prices of food items have already started to decrease. Inflation is likely to come around 5% by June 2023,” he stated.
India’s retail inflation eased to a 5-month low of 6.71% in July 2022. It was 7.01% in June 2022.
On progress and inflation, the RBI Governor stated tackling inflation is the precedence of the highest financial institution. On the similar time, we’ll attempt to make sure it doesn’t have an effect on progress a lot, he stated.
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Shaktikanta Das stated so far as India’s progress is anxious, I’m very assured.
“We will keep monitoring it and take the necessary action as and when required,” he stated.
He stated slowing world economic system will even influence the nation, nonetheless, to this point, we’re progressing effectively on this entrance.
On makes an attempt to examine financial institution frauds, he stated the RBI is creating consciousness on cyber frauds by way of tv, radio, print media and voluntary organizations or shopper associations as one of many measures to cope with rising digital frauds within the nation.
He stated that banking frauds are taking place in several methods, reminiscent of by sharing hyperlinks on cell phones for finishing KYC. The fraudsters have been adopting completely different modus operandi as a way to dupe folks, he stated.