RBI Governor Shaktikanta Das Says Q2 GDP Growth Will Surprise on Upside

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday that the growth momentum continues to be strong, and the official data for GDP expansion in the second quarter will surprise on the upside.

Inflation is the First Priority for the RBI

Speaking at the annual BFSI Insight Summit organized by Business Standard in Mumbai, Das said inflation is the first priority for the RBI at the moment.

Geopolitical Uncertainties are the Biggest Risk to Global Growth

Das said geopolitical uncertainties are the biggest risk to global growth at present, but India is better placed to handle it as compared to other countries.

RBI's Monetary Policy is Driven by Domestic Factors

The governor said rates in advanced countries and other international factors are taken into consideration while formulating the monetary policy, but was quick to add that eventually the monetary policy is driven by domestic factors of inflation and growth.

India's Inclusion in the J P Morgan Global Bond Indices

When asked about the country's inclusion in the J P Morgan global bond indices, Das initially admitted that this is a double-edged sword with positives and negatives, but sought to allay fears saying any large volatilities in the financial markets are unlikely.

Das said the move to include the country in the indices announced last month speaks of confidence in the country's economy and the financial markets.