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FICCI welcomes new RBI Governor

Das has 360-degree understanding of financial issues, says FICCI President Shah. Source: Das’ twitter.

The Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed the appointment Shaktikanta Das as governor of Reserve Bank of India, saying he has 360-degree understanding of the financial issues facing the Indian economy.

“It’s a great choice. Das has a 360-degree understanding of the financial issues facing the Indian economy and he also understands global issues due to his involvement with G20,” said FICCI President Rashesh Shah on 11 Dec 2018.

“The wide-ranging experience in handling the economic matters will certainly help Das in dealing with the critical issues facing the economy.

“We need to bring down the real interest rates, improve liquidity and promote growth and employment. Improving credit flow to the real economy, especially in sectors like MSME and housing is critical at this juncture,” said Shah.

RBI is a strong institution and under Das’s leadership it will be able to promote macro prudential stability and efficiently manage the monetary policy.

India’s long-term growth story is strong, and the potential for sustained GDP growth of 8% plus is achievable by continuing the reform agenda and improving credit availability to the industry, said FICCI.

Das was appointed RBI governor a day after Urjit Patel suddenly resigned as the country’s central banker on 10 Dec 2018. fiinews.com