KV Kamath praises RBI— says it has not made single misstep in past few years

KV Kamath, the veteran banker and chairman of the National Bank for Financing Infrastructure and Development (NaBFID), recently praised India's monetary policies. According to Kamath, India is taking the right steps when it comes to interest rates, and the Reserve Bank of India (RBI) has not made a single misstep in the past few years. Kamath's praise for India's monetary policies is a clear indication of the confidence he has in the country's economy.

However, Kamath also expressed concern about the West and their monetary policy. He believes that their policies could have a negative impact on the global economy. Kamath's comments highlight the need for countries to work together to ensure that their policies are aligned with the goals of global economic growth.

One of the primary drivers of growth in India is domestic consumption. Kamath believes that India's demographic gives the country a unique advantage in this regard. India needs a young population that can both build and consume. According to Kamath, job creation is not a concern, as back offices are being set up in India, which will lead to the creation of more jobs.

Kamath also stressed the need for better risk management. He believes that there is a need to educate both corporate and individual borrowers about the risks involved in borrowing. According to Kamath, regulators must spell out the risks properly, and there needs to be a better understanding of risk.