RBI’s economic activity index nowcasts Q3 growth at 7%!
Banking & Finance
RBI's economic activity index (EAI) has nowcast GDP growth for Q3 (October-December) FY24 at 7 percent, according to an article in the central bank's latest monthly bulletin. This is higher than the real GDP growth projection of 6.5 percent for Q3FY24 made in the Governor's December 2023 monetary policy statement. The RBI acts as a regulator and supervisor of the overall financial system. This injects public confidence into the national financial system, protects interest rates, and provides positive banking alternatives to the public. Finally, the RBI acts as the issuer of national currency.
RBI’s economic activity index (EAI) has nowcast GDP growth for Q3 (October-December) FY24 at 7 percent.
This is higher than the real GDP growth projection of 6.5 per cent for Q3FY24 made in the Governor’s December 2023 monetary policy statement.
About Reserve Bank Of India:
Governor: Shaktikanta Das, Founded: 1 April 1935, Kolkata
Currency: Indian rupee (₹), Headquarters: Mumbai, Maharashtra, India
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