RBI credit policy

The Reserve Bank of India (RBI) continued its accommodative stance. RBI Governor, Shaktikanta Das began drew attention to the Gross Domestic Produce (GDP) expansion by 13.5 per cent. He expressed satisfaction with external financing requirements remaining moderate. Informing that one must take cognisance of policy actions being mobilised at an unprecedented scale, Das cited the unity of various stakeholders brought about by the pandemic. Keeping a status quo on policy rates and statistics, the Governor admitted that private investment had been lagging and consumption remains below the pre-Covid19 levels. However, in a silver lining, both the exports and the imports are known to have surpassed pre-Covid19 levels. Headwinds continue with supply-side bottlenecks, and volatile commodity prices. The Governor also admitted to Omicron adding to the complexities.