Globaly economy growth expected to slow down due to Coronavirus
Mumbai: Reserve Bank governor Shaktikanta Das on Friday assured that the central bank will take every measure needed to secure the economy against the challenges arising from the coronavirus epidemic.
"We will be able to respond to the challenges emerging out of the coronavirus epidemic."
Shaktikanta Das, Reserve Bank governor
While noting that there are enough resources to fight the crisis, given the robust forex reserves, he also called for the IMF to launch a non-stigmatised currency swap lines to ease the liquidity pressures globally.
RBI stands ready to intervene in whatever way required to respond to epidemic challenges, Das said, as he expects global growth to slow down due to coronavirus.
He also said that all central banks are resolved to work in close coordination.
On the domestic sector, he said certain sectors which depend on China will be impacted due to the epidemic, but mitigatory steps are being taken for it.
The impact on India will be limited as our economy is not much integrated with the global value chain and to that extent we will be insulated, he added.