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RBI Governor says,- We are not police but RBI keeps an eye on the financial market
Reserve Bank of India Governor Shaktikanta Das attended the India Credit Forum hosted by Bloomberg. In this program, he said that RBI does not work like police. RBI only monitors the financial market and takes action when necessary. Apart from this, Shaktikanta Das also commented on the inflation rate and India's development.
Reserve Bank of India (RBI) has recently taken action against Navi Finserv, the company owned by Sachin Bansal, and three other NBFCs in the country. Due to this, the RBI Governor, Shaktikanta Das, stated today that the RBI does not work as a policeman. RBI just keeps an eye on the financial market and acts when necessary.
RBI took strict action against Sachin Bansal's Navi Finserv and three other NBFCs on Thursday. These financial institutions will no longer be permitted to approve or disburse any loans after October 21, 2024, per RBI instructions.
"We are not policemen but we watch the financial market very closely. We also take action whenever we feel it is necessary," said Shaktikanta Das during the India Credit Forum hosted by Bloomberg.
On the inflation rate in India, Shaktikanta Das has said that Inflation in the country is in the target range and is expected to come down in the coming time. Besides this, on India's development, he said that India's development story is intact.
