The fiscal and taxation reforms have played key role in driving growth and reviving confidence, Das said.
In his opening remarks, Das acknowledged the improved financial and operational resilience of the banking sector that imparts strength to financial stability.
Shaktikanta Das concurred with the government on an easy monetary policy and managed to bring peace in the relationship between the central bank and the Centre.
With growth recovery, perhaps, RBI Governor Shaktikanta Das hopes credit growth will pick up and given the festive season, demand for cash also goes up.
Noting that fuel tax is something the Centre has to act upon, RBI Governor Shaktikanta Das said RBI is in constant touch with the government.
'On the petrol and diesel front, we have flagged the issue, now it is for the government to consider all the aspects and take a decision beyond that I have nothing to add,' Das added.
While announcing the third bi-monthly monetary policy review, he said, the interest rate transmission has improved.
The Reserve Bank's secondary market G-SAP has been successful in anchoring yield expectations while eliciting a keen response from market participants, he noted.
Dr YV Reddy says in the dispute over Krishna waters between TS and AP, Centre should encourage States to come to an understanding
Das said RBI continues to have 'major concerns' on the volatile instruments.
This wasn't entirely unexpected as RBI had dutifully released a trailer last month hinting of a 'highly uncertain and clouded with downside risks' economic future.
Das also called on them to implement the measures announced by the RBI on May 5.
He also urged banks to enhance the resilience of their balance sheets while tackling the challenges brought on by the pandemic.
Businesses, households adapting to lockdowns; demand dent to be lower than last year: Shaktikanta Das
A slew of analysts have been cutting their FY22 growth estimates because of the second wave of the pandemic and the ensuing lockdowns.
Under the scheme, banks can provide fresh lending support to a wide range of entities, including vaccine manufactures.