The Indian economy is likely to grow more than the National Statistical Office (NSO) estimate of 7.6 per cent in the current financial year (FY24) and it could be close to 8 per cent, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday.
The NSO in its second estimate pegged economic growth at 7.6 per cent for FY24.
"Our sense and understanding of the high-frequency indicators and the momentum of economic activity tells us that this 5.9 per cent growth in Q4 could be exceeded and when that happens the growth will be more than 7.6 per cent. There is quite a good chance of the gross domestic product (GDP) number for the current year being very close to 8 per cent," Das said in an interview with news channel ET Now.
On the issue of Paytm Payments Bank that has been asked to stop deposit and credit transactions after March 15, Das said the regulatory action was against the payment bank, a regulated entity, and not against any fintech.
He said the March 15 deadline would be sufficient and not cause any disruption since only 15-20 per cent of Paytm app users have linked their account to the payments bank.
This story is from the March 07, 2024 edition of Business Standard.
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This story is from the March 07, 2024 edition of Business Standard.
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