RBI Governor Das Warns of Economic Challenges, Says He Will "Play My Shots Very Carefully"

RBI Governor Das Warns of Economic Challenges, Says He Will "Play My Shots Very Carefully"

RBI Governor Das Cautious on Rate Hikes, Citing "Turning Pitch"

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday warned of economic challenges and said that the central bank will play its shots very carefully.

Speaking at the annual general meeting of the Indian Banks' Association (IBA), Das said that the global economy is facing a number of challenges, including the ongoing war in Ukraine, rising inflation, and supply chain disruptions.

"These challenges are also impacting the Indian economy," Das said. "We are seeing signs of slowing growth and rising inflation."

In order to address these challenges, Das said that the RBI will play its shots very carefully.

"We are committed to maintaining price stability in the medium to long term," he said. "However, we will also be mindful of the need to support economic growth."

Das's comments come ahead of the RBI's next monetary policy meeting, which is scheduled for October 8.

What does it mean for you?

Das's comments suggest that the RBI is likely to take a cautious approach to monetary policy in the coming months. This means that interest rates are unlikely to rise sharply.

However, it is important to note that the RBI is also committed to maintaining price stability. This means that if inflation remains high, the RBI may be forced to raise interest rates.

Here are some things that you can do to protect yourself from the rising cost of living:

• Create a budget and track your spending. This will help you to identify areas where you can cut back.
• Pay off high-interest debt. This will reduce your monthly payments and free up more money for other expenses.
• Invest in yourself. This could involve taking courses to improve your skills or starting your own business.
• Build an emergency fund. This will give you a financial cushion to fall back on if you experience unexpected expenses.
• If you are concerned about the rising cost of living, you should talk to a financial advisor. They can help you to create a plan to protect your finances