Economy seems to be ‘well settled’: RBI governor

The Indian economy seems to be “well settled into an equilibrium of resilient growth” despite global uncertainties, Reserve Bank of India Governor Sanjay Malhotra said on Friday.

- Rajeev Jayaswal

“India’s macroeconomic fundamentals have remained very strong, built assiduously over the decades. We have strong forex reserves, low inflation since February, a narrow current account deficit, a very credible fiscal consolidation path, [and] very strong balance sheets of our banks and corporates,” he said.

While speaking at the Kautilya Economic Conclave (KEC) in New Delhi on ‘Central Banking in Turbulent Times’, he said: “This is to be attributed to the steadfast attention to ensuring micro economic stability, price stability, financial stability, and even policy stability.”