RBI Governor Sanjay Malhotra stresses inflation control, cites $32B inflows
RBI Governor Sanjay Malhotra says keeping inflation in check is the bank's top priority, even with global uncertainty in the mix.
He shared that recent measures helped banks pull in nearly $32 billion through special nonresident Indian (NRI) deposits and over $7 billion from foreign investments in government bonds.
Sanjay Malhotra reassures on liquidity tools
Malhotra brushed off worries about recycled deposits and reassured everyone that RBI has tools to manage any liquidity swings.
He pointed to India's strong current account surplus, healthy remittance flows, and improving foreign direct investment flows as proof of economic strength.
Even with some rupee ups and downs due to world events, he emphasized that the currency remains fundamentally solid.
Plus, Indian banks are financially sound, with no signs of overheating, so the focus stays on balancing inflation control with steady growth.