RBI has conveyed its concerns regarding cryptocurrency to the government: Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that the central bank has conveyed its concerns regarding cryptocurrencies to the government. Now the government has to look into it.
He said that now it is for the central government to decide how to deal with the proliferation of such platforms. He said that we need credible answers on what will be the contribution of private cryptocurrencies to the Indian economy going forward 
The RBI Governor tally expects to realize the GDP growth forecast of 9.5 per cent within the current twelvemonth 2021-22. He aforesaid central banks ar optimistic concerning achieving the nine.5 per cent rate of growth forecast.
Addressing a happening organized by The Indian categorical and monetary Times,  aforesaid the second wave of COVID-19 had subsided by August. expansion rate going to be higher on a quarter-on-quarter basis from the second quarter.
 aforesaid that the depository financial institution has set to offer a lot of stress on economic process because of the pandemic. conjunction with this, he conjointly should come in vary of two to six % inflation that the govt has fastened for him.

The Governor aforesaid that the liquidity position within the world markets is sort of sleek. Because of this, the domestic market is booming. He processed that there's no proof that higher property costs square measure moving the inflation state of affairs.
 He foresaid whether or not or to not continue with the soft stance would be set by the financial Policy Committee. Responding to a matter, he foresaid of very high inflation isn't doubtless to widen. 

Das aforesaid the NPA's of the banking industry have currently come back to such A level that they will be managed. He underlined that banks have adequate capital buffers. The FTO magnitude relation of the banking industry stood at seven.5 per cent at the top of the June quarter.

On the question of big loss to the lenders within the financial condition resolution method, Das aforesaid there's scope for improvement within the functioning of IBC. These embrace legislative changes yet because the courts time taken for a case in bankruptcy

Strong commitment to fiscal deficit target will have positive impact on bond yields,inflation and currency value. Need further measures for boosting exports,liberalisation of FDI,adjustment or refund of GST credit accumulation,etc.