PM Narendra Modi on RBI Governor Shaktikanta Das’ ‘A+’ rating in Global Finance Report, ‘recognition of his leadership…’

Prime Minister Narendra Modi on August 21, congratulated Reserve Bank of India's (RBI) Governor, Shaktikanta Das for his ‘A’ grade rating in the Global Finance Central Banker Report Cards 2024.

In a post on social media platform X (formerly known as Twitter), PM Modi said, “Congratulations to RBI Governor Shaktikanta Das for this feat, and that too for the second time. This is a recognition of his leadership at the RBI and his work towards ensuring economic growth and stability.”

Second Consecutive ‘A+’ Rating For Das

Das, on August 20, received an 'A+’ rating for the second consecutive year in the Global Finance Central Banker Report Cards 2024, the Global Finance Magazine said.

RBI also posted about the win on X, quoting the Global Finance Magazine report.

The Global Finance Magazine released the names of the central bank governors around the world who have earned “A+”, “A”, or “A-” in its Central Banker Report Cards for the year 2024.

Das received the “A+” rating along with two other central bank governors: Denmark's Christian Kettel Thomsen and Switzerland's Thomas Jordan, the release said. This is Das's second consecutive time receiving a positive rating.

Overview of RBI's Achivements

• The RBI has been successful in controlling the larger macroeconomic situations in the country. The apex bank is actively working to push economic growth through its monetary policies, ANI reported.
• The RBI recently kept the the repo rate unchanged at 6.5 per cent after the deliberations of the Monetary Policy Committee (RBI MPC) meeting in August. The move reflects the central bank's cautious approach amid ongoing economic uncertainties, it added.
• Announcing the monetary policy decisions, Das had said that the decision to keep the repo rate steady comes amidst persistent concerns about inflation, which remains above the RBI's target range.

• RBI Governor Das said that the inflation will moderate from July onwards as the monsoon has improved and global food prices have shown signs of easing in July.
• The Q1 Consumer Price Index (CPI) inflation for the current financial year (2024-25) is projected at 4.5 per cent. CPI inflation for the first quarter of the next financial year (Q1 2025-26) is projected at 4.4 per cent, as announced by the RBI Governor.
• India's retail inflation, after breaching 5 per cent in June, softened drastically in July. In line with the moderation in retail inflation, wholesale inflation in India too witnessed a sharp decline in July.
• The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 2.04 per cent (provisional) for July 2024 (over July 2023).

(With inputs from ANI)