Reserve Bank of India Governor Sanjay Malhotra said India remains one of the world’s strongest growth stories, backed by sound macroeconomic fundamentals, resilient financial markets, and continued reform momentum, during an interaction hosted by the Consulate General of India in New York on Thursday. 

The event was attended by investors, senior banking officials and industry leaders.  

The RBI Governor said inflation and external debt remain well within target levels despite multiple global shocks, reflecting the resilience of India’s economic management. He further stressed India’s continued commitment to regulatory reforms and improving ease of access and operations for foreign investors. 

Malhotra highlighted India’s robust policy framework and the steady rise of its financial markets, noting that the country’s foreign exchange reserves stand at around $700 billion. He also underscored India’s expanding global economic engagement, including the conclusion of eight free trade agreements covering 37 countries, as well as the growing depth of the government and corporate bond markets. 

According to him, India’s strong fundamentals, resilient financial sector and forward-looking reforms continue to reinforce global investor confidence in the country’s long-term growth prospects. 

India stable despite West Asia conflict: RBI Bulletin 

Separately, the RBI said the Indian economy remains stable despite the West Asia conflict pushing up energy prices and input costs, while supply chain disruptions pose upside risks to inflation. 

An article published in the Reserve Bank’s April Bulletin said the conflict intensified pressures on global supply chains in March, although some easing was seen in the first half of April. 

It added that domestic economic activity showed resilience across several sectors, though some segments witnessed a slowdown. 

“If the conflict persists and supply chains are not restored early, it may create challenges to the domestic economy in the form of higher energy costs, input cost pressures, disruption in trade flows and financial market spillovers,” the article said. 

RBI approves Vivek Tripathi appointment at AU Small Finance Bank 

Meanwhile, the RBI on Thursday approved the appointment of Vivek Tripathi as Executive Director of AU Small Finance Bank for a period of three years. 

Tripathi will assume charge as Whole-time Director with effect from April 24, the bank said in a regulatory filing. 

The lender said it will seek shareholders’ approval for the appointment in due course. Tripathi currently serves as the bank’s Chief Credit Officer and has been associated with AU Small Finance Bank since 2014.