RBI Has Evolved From Being Allocator of Scarce Resources To Market Economy Enabler: Shaktikanta Das – News18

RBI Governor Shaktikanta Das on Monday said the Reserve Bank has seen evolution from being a central bank primarily concerned with the allocation of scarce resources during the planning period to now being an enabler for the market economy.

“The Reserve Bank’s evolution as an institution has been closely intertwined with the development of the Indian economy, from being a central bank primarily concerned with the allocation of scarce resources, during the planning period, the Reserve Bank transitioned into being an enabler for the market economy. We are a full-service central bank, with our functions spanning multiple dimensions. It has been our endeavour to promote the financial sector, a financial sector that is robust, resilient, and future-ready,” Das said, while speaking at the RBI@90 event in Mumbai.

The RBI governor also said the path-breaking structure reforms such as the enactment of the Insolvency and Bankruptcy Code and the adoption of flexible inflation targetting in the recent years have helped us to deal with the challenges in the banking system and the task of maintaining price stability more effectively.