Mumbai: The Reserve Bank is fully prepared to protect the economy from the challenges posed by the spread of the Corona virus. Central Bank Governor Shaktikanta Das on Friday assured that the bank will take all necessary steps to meet this challenge. The outbreak of the corona virus has spread to about 80 countries of the world and more than 3,300 people have died worldwide.
“We are ready to deal with the challenges caused by the corona virus,” Das said at an event here. He said that we have enough resources to deal with this crisis. We also have huge reserves of foreign capital. He also called for the International Monetary Fund (IMF) to introduce an easy, fair and open (non-stigmatized) system of currency exchange to ease the pressure of the cash crisis globally.
Das said that due to corona virus, the global economic growth rate is expected to soften. “RBI is ready for any intervention that will be needed to deal with it,” he said, adding that all central banks are committed to working together to tackle the challenge of the corona virus. Regarding domestic industries, he said that there are few areas in the country that depend on China and they can be affected by this epidemic. But steps are being taken to reduce its impact.
