Adani Enterp. 2534.05↓-10.30(-0.40%)
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Asian Paints 3137.40↑9.00(0.29%)
Axis Bank 929.80↑2.85(0.31%)
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Coal India 246.10↑4.60(1.90%)
Divi's Lab. 3477.85↓-36.15(-1.03%)
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Eicher Motors 3711.45↑21.10(0.57%)
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H D F C 2690.55↑39.95(1.51%)
HCL Technologies 1126.20↓-13.00(-1.14%)
HDFC Bank 1635.50↑19.70(1.22%)
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Hero Motocorp 2776.90↑31.75(1.16%)
Hind. Unilever 2650.30↓-2.05(-0.08%)
Hindalco Inds. 419.90↑6.35(1.54%)
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Infosys 1314.40↓-3.05(-0.23%)
ITC 449.10↑5.50(1.24%)
JSW Steel 702.20↑0.50(0.07%)
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Maruti Suzuki 9333.50↓-66.45(-0.71%)
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NTPC 176.30↑1.80(1.03%)
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Power Grid Corpn 234.50↓-2.80(-1.18%)
Reliance Industr 2520.60↑14.10(0.56%)
SBI Life Insuran 1218.10↑22.35(1.87%)
St Bk of India 595.00↑9.00(1.54%)
Sun Pharma.Inds. 968.45↓-1.45(-0.15%)
Tata Consumer 794.25↑4.55(0.58%)
Tata Motors 521.45↑3.00(0.58%)
Tata Steel 108.45↑2.05(1.93%)
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Tech Mahindra 1114.05↓-0.70(-0.06%)
Titan Company 2812.25↑70.10(2.56%)
UltraTech Cem. 7840.55↑118.70(1.54%)
UPL 690.00↑1.90(0.28%)
Wipro 399.80↓-1.90(-0.47%)

Worst over for global economy, 'softer recession' likely: RBI governor

There is a need to improve retail access to markets, particularly gilts and derivatives, he says

Bhaskar Dutta Mumbai

Shaktikanta Das. Photo: Kamlesh Pednekar

Premium

Das voiced optimism about the prospects of India’s economy

4 min read Last Updated : Jan 27 2023 | 11:38 PM IST

The global economy is expected to contract significantly this year but the worst seems to be behind us, both in terms of growth and inflation, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday.

“On the growth front, projections are now veering around to a softer recession as against a severe and more widespread recession projected a few months back,” Das said at an event in Dubai.

According to the International Monetary Fund’s latest economic outlook, global growth is forecast to slow to 2.7 per cent in 2023 from 3.2 per cent in 2022. The RBI said last month that it expected India’s economy to grow at 6.8 per cent in the current financial year.