RBI: For the second year in a row, RBI Governor Shaktikanta Das has been graded A+ in the Global Finance Central Banker Report Card 2024. This is a grand recognition of his visionary leadership and how the RBI has been manning the nation’s economic landscape quite well.
Prime Minister Modi Applauds Shaktikanta Das for A+ Rating
Prime Minister Narendra Modi congratulated Das on social media, saying that this made him proud by being testimony to Das’ commitment and prowess in ensuring economic growth with stability. ” Congratulations to RBI Governor Shri @DasShaktikanta for this feat, and that too for the second time. This is a recognition of his leadership at the RBI and his work towards ensuring economic growth and stability.,” Modi said.
The Central Banker Report Card is an annual publication by Global Finance since 1994 that grades central bank governors from nearly 100 major countries, including the European Union and various regional central banks. The rating system goes from “A+” through “F,” with “A” referring to outstanding performance in such areas as inflation control, economic growth targets, currency stability, and interest rate management. An “A+” grade represents exceptional performance.
Understanding RBI’s Recent Monetary Policy
The founder and editorial director of Global Finance, Joseph Giarraputo, comments that it is really a global fight against inflation, and central bankers around the world have had great success toward that goal. “There has been a war on inflation over the past few years, with central bankers using their major artillery: high interest rates. Today, countries around the world see concrete signs of these efforts, as inflation has declined at very encouraging rates.”.
Under the leadership of Das, RBI has kept macroeconomic conditions of India under control. Recently, the RBI kept the repo rate unchanged at 6.5 percent, which is viewed as reflecting its conservative attitude amidst continued uncertainties in the economy and hardening of the outlook for inflation. Das expects moderation in the inflationary trend with the improvement in monsoon conditions and easing global food prices.
