Governor of the Reserve Bank of India Shaktikanta Das said on Friday that the central bank does not act as a policeman but closely monitors the financial market, taking regulatory action when necessary.
“No, we’re not police officers. We are watching very carefully. We are watching over credit markets and take action when necessary,” Das said while speaking to Credit Forum in India hosted by Bloomberg.
His comments came after the apex bank targeted Sachin Bansal’s Navi Finserv and three other NBFCs to stop lending with effect from the end of business on October 21 due to supervisory concerns, including excessive pricing.
Das further emphasized that this is the time for India, adding, “India’s growth story is intact and inflation is already within the target range. It is expected to moderate.”
He also mentioned that while there are risks, RBI closely monitors the outlook for both growth and inflation.
‘RBI not police’: Governor Shaktikanta Das on action against financial market – Times of India
