RBI warns; Omicron can affect badly the country's development


In the preamble to the Economic Stability Report, RBI Governor Shaktikant Das wrote that the growth outlook has gradually improved since the second wave of the devastating corona virus epidemic in April-May this year.


The country's economy is slowly picking up and getting stronger from the second quarter of the current financial year,

But with rising inflationary pressures and a new form of the corona virus, omicron has become a major challenge,

NPAs (non-performing assets) may increase from 6.9 per cent in September 2022 to 8.1-9.5 per cent in September 2022.



The country's economy is slowly recovering and strengthening from the second quarter of the current financial year, but rising inflationary pressures and a new form of corona virus, Omicron, have become a major challenge, the Reserve Bank of India said in its second Economic Stability Report released on Wednesday (December 29). Is given.


RBI Governor Shaktikant Das said a strong and sustainable revival depends on private investment and growth in private consumption, but unfortunately they are still below pre-epidemic levels. Concerns remain about rising inflation. He called for concrete measures to control food and energy prices.



The governor further said that due to policy and regulatory support, financial institutions have remained strong during the epidemic and financial markets have remained stable. He hoped that strong bank accounts along with capital and liquidity conditions would help them overcome future shocks. Also, NPAs (non-performing assets) may increase from 6.9 per cent in September 2022 to 8.1-9.5 per cent in September 2022.


Citing the pressure test of banks, Das warned. He reiterated the Reserve Bank's commitment to ensure a strong and efficient financial system for strong, sustainable and inclusive growth with economic stability.

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