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SUPER EXCLUSIVE: RBI Governor Shaktikanta Das chats with Anil Singhvi on inflati…

3 months ago
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SUPER EXCLUSIVE: RBI Governor Shaktikanta Das chats with Anil Singhvi on inflati…
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The wait is finally over for channel viewers as the SUPER EXCLUSIVE interview with Reserve Bank of India (RBI) Governor Shaktikanta Das by Zee Business Managing Editor Anil Singhvi has happened. The Governor has spoken about steps being taken on strengthening the banks, how the regulator identifies irregularities and issues prevailing there and financial institutions. Governor Das provides his views on inflation and how the Central Bank will bring it to comfortable levels.  

Q1. Has it been an RBI throne or a crown with thorns? How has the two years been as RBI Governor? 

A: The position has been one of great responsibility. There have been two types of situations. It has been a great opportunity to work towards the betterment of the economy of this country. However, there have been challenges and difficulties.

Q2. You have been successful in coming out of the image of your predecessors who were perceived to be reclusive. You have a very cordial relationship with the government. How have you managed to do this?A:  The thought process of a Government and the Central Banks is usually different, world over. The differences can be ironed out by having a greater dialogue. Moreover, the accountability of a government in matters of economy are much greater than the Central Bank of a country. On contentious issues, the way forward is to have a conversation with each other. 

Q3. What has been your biggest achievement in two years at the helm? 

The biggest challenge at the time of taking over the office was in the NBFC sector. There were big questions over their stability and liquidity situation. There was a challenge to stabilise their operations and increase confidence on them. The regulator had to keep a close eye on the functioning of the banks and the NBFCs.

The bank has been trying to pre-empt the financial condition of the banks and caution the management about the issues at hand.  

Currently, the interest rate, monetary policy and growth are some big issues before the RBI. 

Q4. RBI is considered as one of the best Central Bank, globally. There were problems related to PMC, Yes Bank and Lakshmi Vilas Bank (LVB) and Yes Bank and LVB were handled very well. Why are banks failing despite a regulatory oversight? Even as we see that the attempts are made to revive the banks, the bond and equity holders are at a loss. 

A: The RBI is putting a lot of emphasis on the interests of the depositors and the decisions are dictated by that. The banking regulators has taken some big steps towards keeping a close watch on the banks. While, we understand the business model of the banks, there is always an eye on its books. The decisions of RBI are as per the regulatory guidelines and within the four walls of the law.   

Q5. Draft guidelines have been released for new banking licences which aim to convert NBFCs to banks. While the guidelines are good, does RBI really want to give new licences? 

A: Anybody can apply for banking licences…



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