Strengthening financial sector

Governance in the banking system needs to be improved

The Reserve Bank of India (RBI) intervened at various levels to contain the impact of Covid-induced disruption in the economy. Although the recovery is far from complete, and the impact of the pandemic will be felt for years to come, policy interventions will have to be recalibrated and the central bank would need to guide the economy towards normalcy. In terms of monetary policy management, the central bank has started the unwinding process in a calibrated manner. In the context of financial sector oversight, RBI Governor Shaktikanta Das touched upon several interdependent issues in his remarks at an event recently,