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Informist, Monday, Aug. 25, 2025

MUMBAI - Following are the highlights of comments by Reserve Bank of India Governor Sanjay Malhotra at FIBAC 2025 event organised by the Federation of Indian Chambers of Commerce and Industry and Indian Banks' Association in Mumbai:

MACROECONOMY

* India econ symbol of resilience, hope 

* India econ characterised by robust macroecon fundamentals 

* All set to become 3rd largest econ 

* Indian govt fiscal position very strong 

* Flexible inflation targetting brought dn CPI in last 10 yrs 

* Corporate balance sheets very healthy 

* India external sector very comfortable 

* We have robust forex reseerves 

* Now at critical juncture as we head to global issues 

* Need to push frontiers of growth in face of global challenges 

* Proactive policies by RBI, govt contained CPI in last few yrs 

* Supply side steps, monetary policy helped with CPI 

* Not lost sight of objective of growth 

* Will continue monetary policy with focus on growth 

* Monetary policy will maintain price stability 

* Monetary policy will keep in mind growth objective 

FINANCIAL SECTOR

* Regulation gives adequate friction in bk sector for stability 

* Stringent regulation may impede econ growth 

* Have not hesitated to loosen rules if context changes 

* To continue strengthening fincl stability 

* Propose to issue credit risk, expected credit loss norms soon 

* Trying to rationalise macro policies 

* Regulated cos' boards may be overburdened by policymaking 

* Looking at ways to expand bank credit 

* Looking at ways to lower cost of mediation 

* Still scope for improving last mile banking 

* Banks need to strengthen business correspondent channel 

* Banks' business correspondents effective in fincl inclusion 

* Significant credit gap to MSMEs, need to push credit there 

* Urge all stakeholders to make use of central KYC registry 

* Need effective grievance redressal mechanism in fincl sector 

* We will further strenthen lending platform like ULI 

* Regulators, regulated cos have shared objectives, vision 

* There is no tussle between fincl stability, growth 

* Urge cos to invest boldly, with entrepreneurial spirit 

* With clean balance sheets, cos should drive animal spirits 

* Urge industry to invest boldly in enterprenueral spirit 

* Been proactive in betterment of growth 

* Have provided ample liquidity to banking sector 

* Will continue to promote trade in local currencies 

* Local currency trade settlement cushions from global volatility 

* Continue to look at measures to provide NBFCs liquidity 

* No proposal to provide standing liquidity facility to NBFCs 

* No proposal for standing liquidity facility for NBFCs 

* Will continue to provide NBFCs liquidity in times of stress 

* Will take all steps to promote fintech, also have guardrails 

US TARIFFS

* Hopeful US-India tariff negotiations will play out 

* Hopeful US-India tariff impact will be minimal 

* Hopeful that tariff negotiations with US work in our favour 
* We will not be found wanting in our job on US tariff threat 

* Won't be found wanting in anything needed to support growth 

* To give support to tariff-affected sectors if needed 

End

Compiled by Shubham Rana

Filed by Vandana Hingorani

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