In an exclusive interview with Zee Business Managing Editor Anil Singhvi on Friday, RBI Governor Shaktikanta Das spoke on host of topics, including inflation, rupee depreciation, time lag between hike in lending and deposit rates, GDP growth estimates and more.
Speaking on inflation, the Governor said it has peaked out in India and will cool down eventually. “Inflation is a global phenomenon. In India, it has peaked and will come down gradually over time. Prices of food items have already started to decrease. Inflation is likely to come around 5% by June 2023,” he said.
India’s retail inflation eased to a 5-month low of 6.71% in July 2022. It was 7.01% in June 2022.
On growth and inflation, the RBI Governor said tackling inflation is the priority of the top bank. At the same time, we will try to ensure it does not affect growth much, he said.
अगले साल जून तक महंगाई 5% तक संभव:RBI गवर्नर शक्तिकांता दास #ZeeBusiness पर #RBI गवर्नर का #EXCLUSIVE हिंदी इंटरव्यू @AnilSinghvi_ pic.twitter.com/i3L1Onn4zZ
— Zee Business (@ZeeBusiness) September 2, 2022
Shaktikanta Das said as far as India’s growth is concerned, I am very confident.
“We will keep monitoring it and take the necessary action as and when required,” he said.
He said slowing world economy will also impact the country, however, so far, we are progressing well on this front.
On attempts to check bank frauds, he said the RBI is creating awareness on cyber frauds through television, radio, print media and voluntary organizations or consumer associations as one of the measures to deal with growing digital frauds in the country.
He said that banking frauds are happening in different ways, such as by sharing links on mobile phones for completing KYC. The fraudsters have been adopting different modus operandi in order to dupe people, he said.