Stability in G-sec yields bolstered financial market resilience: Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman

Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman, stated on Monday that the stability in government securities yields has strengthened overall financial market resilience and investor confidence in the Indian economy. Speaking at an event in Mumbai commemorating the 90th year of the Reserve Bank of India (RBI), Ms. Sitharaman highlighted the effectiveness of measures undertaken for monetary tightening in stabilizing G-Sec yields.

Emphasizing the significance of inflation management amidst monetary tightening measures, she praised the RBI's proactive approach to addressing inflation concerns and its innovative strategies to maintain financial stability. Ms. Sitharaman commended the central bank's adaptability in navigating various challenges, including the unprecedented Covid-19 pandemic, stating that the RBI stands tall among its peers. Reflecting on the RBI's legacy of employing both conventional and unconventional measures to safeguard the economy, she noted the collaborative efforts between the government and RBI in asset quality management and the prompt corrective action framework, which have yielded success.

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