Reserve Bank of India Governor Sanjay Malhotra
The Indian rupee fell by 24 paise against the dollar on Wednesday. Ever since the Iran tension started, the Indian rupee and foreign investment in India have been a topic of constant discussion. RBI has given a big update on this fluctuation of rupee and foreign investment in India.
Reserve Bank of India (RBI) Governor Sanjay Malhotra has said that the inflow of foreign investment into India and the fluctuations in the value of the rupee are temporary and become normal with time. He assured that all these things are being constantly monitored.
RBI keeps an eye on rupee and foreign investment
He said this in a meeting organized by the Consulate General of India in New York, in which big investors and representatives of financial institutions from around the world participated. The Governor said that the Government of India and the RBI are together simplifying the rules, so that doing business becomes easier and more and more foreign investors can invest in India. Also, Indian markets are being connected to the global market in a more stronger manner.
India’s economy is in a strong position
During this, RBI official Dimple Bhandia, while giving a presentation, said that India’s economy is in a strong condition, inflation is under control in the country, the banking system is strong and the policies are stable. She also told that India remains the fastest growing large economy in the world and is soon moving towards becoming the third largest economy. According to the report, India’s current account deficit is around 1.1% of the GDP, which is under control, and the country has about $ 700 billion. Strong foreign exchange reserves are also present. Overall, RBI says that even though there may be some movement globally, India’s economy is strong and remains a reliable option for investment.
