Finance Minister Nirmala Sitharaman (centre), RBI Governor Sanjay Malhotra (second right) and other officials address a press conference following the Central Board meeting. PIC/ PTI
While addressing the press conference after the customary post-Budget meeting with the Central Board of Directors of RBI, Sitharaman said that gold continues to be a preferred investment for households and typically witnesses seasonal spikes during the festive period
Commenting on the US tariff issue, Sitharaman said that the Ministry of Commerce and Industry is reviewing the situation. She said it is too early to comment on the issue
During the press conference, RBI Governor Sanjay Malhotra said that despite the recent rise in gold prices, the overall value of gold import orders has not increased significantly
Malhotra stated that the new CPI inflation series based on 2024 prices will better reflect Indian households' consumption patterns and reduce volatility
Commenting on the banking sector, the RBI Governer said banks are well-capitalised, can sustain credit growth for 4-5 years, with deposit growth now matching credit expansion
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