Signs Of Economic Recovery Are Visible, Says RBI Governor
NDTV
RBI Governor said that public expenditure will play a major role in pushing investment-led recovery
Signs of economic recovery are visible as various indicators have shown positive growth and therefore banks should be ready when the investment cycle revives, Reserve Bank of India (RBI) Governor Shaktikanta Das said.
"There are signs that consumption demand, triggered by the festive season, is making a strong comeback. This should encourage firms to expand capacity and boost employment as well as investment amid congenial financial conditions," he noted.
Mr Das added that the gross non-performing assets (NPAs) of banks have shown improvement in September 2021 compared to June 2021 levels and called upon financial institutions to shore up their capital management process.
Addressing a banking conclave organised by the State Bank of India (SBI), Mr Das said that the cut in excise duty on petrol and diesel will further enhance people's purchasing power.
