Tue Dec 10 10:41:59 UTC 2024: ## RBI Governor Shaktikanta Das Prioritizes Balancing Inflation and Growth in Farewell Address
**Mumbai, India** – Outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das concluded his six-year term on Tuesday, emphasizing the central bank’s primary focus on balancing inflation and economic growth. In his farewell press conference, Das highlighted the immense potential of Central Bank Digital Currency (CBDC), calling it “the currency of the future.”
Das’s tenure saw close coordination between the RBI and the Ministry of Finance, despite occasional differences in perspective. He expressed confidence in his successor, Sanjay Malhotra, appointed by the government on Monday and assuming office on December 11th. Malhotra, currently the Revenue Secretary, brings extensive experience to the role, according to Das.
Das stressed that monetary policy, particularly repo rates, is not the sole determinant of economic growth. The RBI’s efforts, he stated, have been directed towards tailoring monetary policy to suit prevailing economic conditions.
Other news highlights include a surge in Gold ETF investments for a seventh consecutive month, Parliamentary inquiries regarding the Congress party’s relationship with George Soros, and a significant order boosting shares of India’s largest solar company. The stock market closed flat, with the Sensex at 81,510 and the Nifty at 24,610. Crude oil prices also experienced a decline.
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