Growth getting stronger foothold, inflation coming under control, says RBI Governor Shaktikanta Das

India's economic growth gaining strength, inflation under control: RBI Governor Shaktikanta Das. Prudent policy mix, structural reforms driving growth. RBI remains watchful, actively disinflationary to align inflation to target. UPI revolutionised digital transactions, cross-border payments to be explored.

Reserve Bank Governor Shaktikanta Das on November 9 said economic growth in India is getting stronger foothold while inflation is also coming under control driven by the inherent dynamism and a prudent policy mix.

The governor also said the RBI remains watchful and the monetary policy is actively disinflationary and supporting growth.

The government has mandated the RBI to ensure that inflation based on the Consumer Price Index (CPI) remains at 4% with a margin of 2% on either side.

At a symposium in Tokyo, Mr. Das also talked about the central bank's approach to the fintech ecosystem, saying it is customer-centric.

There is focus on good governance, ensuring effective oversight, ethical conduct and risk management, and encouraging self-regulation by the fintechs themselves through a Self-Regulatory Organisation (SRO), he said.

"It is a matter of satisfaction that the Indian economy has sailed through the turbulent waters smoothly during the recent years. Driven by its inherent dynamism and supported by a prudent policy mix, growth is getting stronger foothold while inflation is also coming under control," the governor said.

India's economic performance also owes a lot to the very calibrated, focused and targeted monetary and fiscal responses since the pandemic, he added.