New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday assured the countrymen that the central bank’s 7.2 per cent GDP growth projection for FY25 doesn’t appear out of place as structural drivers are playing a bigger role in macroeconomic outcome.
Addressing FIBAC, which has been jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA), Das said only regulated entities will be allowed on Unified Lending Interface (ULI) platform to ensure prudent lending. ULI will not be a select club of few players. The RBI is launching the ULI platform to simplify loan processing and help lenders quickly get information on land records, and reducing paperwork.
“Our nation’s journey towards becoming an advanced economy is drawing strength from a unique blend of factors, and these factors would include a young and a dynamic population, a resilient and diverse economy, robust democracy, and a rich tradition of entrepreneurship and innovation,” Das said.
The RBI head assured that India’s growth story is intact and the balance sheets of banks are robust. Das asked private sector to make more investments in a big way.
He said data actually shows that the fundamental growth drivers of the Indian economy are actually gaining momentum and they are not slowing. “This gives us the confidence to say that the Indian growth story remains intact,” he said.
The RBI Governor said the data showed fundamentals of growth drivers are gaining momentum and India’s growth story remains intact. “Headline growth came lower because of lower govt expenditure by centre, state governments due to general elections,” he added.
Das exuded confidence in expenditure of both centre, state governments to pick up pace in line with respective budget estimates.
The RBI Governor emphasised on expanding the financial sector and harness digital platforms to drive inclusive growth. Shaktikanta Das made a strong pitch for giving special impetus to products and services designed for women-led businesses and MSMEs without diluting underwriting standards.
Reserve Bank of India Governor Shaktikanta Das addressed FIBAC and touched upon Indian GDP projection, poverty, Unified Lending Interface, women-led businesses and more. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
