Monetary Policy

Participants from the RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri Swaminathan J. – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India  Moderator: Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India  Yogesh Dayal: Good afternoon everyone. Hello and welcome to the First Policy of 2024-25. Today with us we have Governor, Shri Shaktikanta Das, Deputy Governors, Dr. M.D. Patra, Shri M. Rajeshwar Rao, Shri T. Rabi Sankar, Shri Swaminathan J., and two Executive Directors, Dr. O. P. Mall and Dr. Rajiv Ranjan. So, as is customary, I would request the Governor to make some opening remarks and then we will go for Q&A.  Shaktikanta Das: Namaskar. I guess I will not be off the mark if I say that the policy overall is on expected lines. So, it demonstrates, I think, the Reserve Bank, the market participants, the market players and perhaps, the media and analysts and all, every stakeholder, thinking is at the moment, well aligned so far as Monetary Policy is concerned. But having said that, I just want to make five observations:

Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Yogesh Dayal – C