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RBI Governor Praises Telangana's Reforms Amid Low Interest Rate Outlook

RBI Governor Sanjay Malhotra met with Telangana Chief Minister Revanth Reddy in Hyderabad. He praised the state government's economic policies and ongoing reforms. The meeting covered topics from power sector changes to new banking initiatives. Governor Malhotra also shared an optimistic outlook on India's growth, partly tied to potential international trade deals.

Key Points: RBI Governor Sanjay Malhotra Meets Telangana CM Revanth Reddy

  • RBI Governor Sanjay Malhotra appreciated Telangana's economic policies during a Hyderabad meeting
  • CM Revanth Reddy highlighted state power sector reforms and solar energy initiatives
  • Malhotra requested Telangana notify the Banning of Unregulated Deposit Schemes Act
  • The Governor discussed RBI's Unified Lending Interface and low interest rate outlook
2 min read

RBI Guv calls on Telangana CM, praises state's economic policies

RBI Governor Sanjay Malhotra meets Telangana CM Revanth Reddy, praises state's economic policies and discusses power reforms, ULI, and future trade deals.

"The impact of the US trade deal could be as much as about half a percentage point. - RBI Governor Sanjay Malhotra"

Hyderabad, Dec 18

Reserve Bank of India (RBI) Governor Sanjay Malhotra, on Thursday, called on Telangana Chief Minister A. Revanth Reddy and appreciated the economic policies being implemented by the state government.

The RBI Governor, who is Hyderabad to attend the RBI Board meeting, had a courtesy call on the Chief Minister at his Jubilee Hills residence.

According to the Chief Minister's Office (CMO), during the meeting, briefed the RBI Governor on various reforms introduced by the state government.

Chief Minister Revanth Reddy said the reforms undertaken in the power sector, including the proposal for the establishment of a third DISCOM.

He also highlighted the steps being taken to increase the use of solar power in the state.

RBI Governor Malhotra requested the Chief Minister Revanth Reddy to notify the Banning of Unregulated Deposit Schemes (BUDS) Act and expressed his desire for the state to move forward with more reforms and development-oriented initiatives.

Sanjay Malhotra also briefed the Chief Minister on the initiatives being taken by the RBI with regard to the Unified Lending Interface (ULI).

He explained the RBI's campaign on claiming government and private deposits.

The RBI Governor was quoted as saying on Wednesday that interest rates are likely to remain low for a "long period" as the Indian economy is recording robust growth while inflation is well under control.

According to a report in the Financial Times (FT), Sanjay Malhotra also said that the country's economic growth could turn out to be higher than the RBI's projection if the trade agreements, currently being negotiated, with the European Union (EU) and the US are signed.

"The impact of the US trade deal could be as much as about half a percentage point," the RBI Governor was quoted as saying in the FT report.

The Central bank had not looked at the possible impact of the EU trade deal as deeply, but it would also increase growth, he added.

- IANS

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Reader Comments

P
Priya S
Good to see the RBI Governor appreciating state-level efforts. The BUDS Act notification is important to protect common people from frauds. Hope the CM acts on it quickly.
R
Rohit P
Low interest rates for a long period? That's a huge relief for home loan and car loan seekers like me! The economy seems to be on the right track. Bharat is shining!
S
Sarah B
While the meeting sounds positive, I hope the praise translates into tangible benefits for all citizens, not just headline-grabbing numbers. The power sector reforms need to ensure stable supply and fair pricing for households.
V
Vikram M
The potential trade deals with the EU and US could be a game-changer. Half a percentage point growth is massive at our scale. Kudos to the RBI and the government for steering the ship well. Jai Hind!
K
Karthik V
More power to solar! 🌞 Telangana's push is commendable. Hope the Unified Lending Interface (ULI) makes loans more accessible for small businesses and farmers across the state. That's real development.

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