Mumbai, 7 November (IANS). RBI Governor Sanjay Malhotra said in the 12th Banking and Economic Conclave 2025 on Friday that this conclave is being held at a time when there are uncertainties due to political tension and technological changes. He described this conclave as the right time to talk about the current challenges and opportunities.
Regarding the same conclave held a year ago, he said that I had registered my presence virtually in this special conclave.
The RBI Governor said, “In the last conclave, I talked about the reforms that we are doing in the taxation sector today. I will talk to you today about some of the regulatory changes made in the last few months.”
Giving further information, he said that earlier we had issued a framework for making a regulation for RBI, in which we have a consultative process. We are trying to make it more open and consultative.
Talking on his MPC statements, the RBI Governor said that financial stability in the Reserve Bank of India is necessary for the interest of the country’s economy.
“This is an essential principle. It is not short-term growth that is achieved at the expense of financial stability, which can have major consequences for long-term growth,” he said.
According to Governor Malhotra, “In a rapidly changing banking system based on technological advances of electronic magnitude, no single regulator can keep the system in place at the same time. The role of the regulator is to lead development in India under rules that ensure stability, fairness and soundness.”
Regarding insolvency and bankruptcy, Sanjay Malhotra said that it has completely changed the credit culture of India.
Regarding SBI, he said that the country’s largest public sector bank has completely changed. SBI, which had gone into loss in 2018, has today become a $100 billion company, which is the result of regulatory and structural reforms.
–IANS
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