Indian economy is an island of macroeconomic, financial stability: RBI Governor

Updated: few hours ago

Mumbai, Aug 5 (PTI) Reserve Bank of India Governor Shaktikanta Das on Friday said the country's economy is an island of stability despite two Black Swan events and multiple shocks.

"In an ocean of high turbulence and uncertainty, Indian economy is an island of macroeconomic and financial stability," Das told reporters during the post policy press conference.

He said the financial stability, macroeconomic stability and resilience of growth is being witnessed despite two Black Swan events happening one after the other and multiple shocks. Generally, a Black Swan event refers to an unpredictable event that has negative consequences. Das did not list out the two Black Swan events that he referred to. In recent times, the coronavirus pandemic and the Russia-Ukraine war have significantly impacted the global economy.