Reserve Bank of India Governor Shaktikanta Das today announced key decisions taken by the central bank’s Monetary Policy Committee. Amid the announcement to keep steady policy rates -- repo and reverse repo rates -- Das referred to the lyrics of a song sung by the late Lata Mangeshkar.

“We are living in a world of Knightian uncertainty in the absence of determinate knowledge about the next mutation of COVID-19. The ability to forecast the future course of the economy is so contingent on the evolution of the virus that one prognosis is as good or as bad as the other and as ephemeral. If the last two years of living with the virus have taught us anything, it is to remain humble, but grounded in self-belief, never losing confidence and optimism," the RBI Governor said.

“As the great Lata Mangeshkar, whom we lost recently, sang in her immortal voice – ‘aaj phir jeene ki tamanna hai’. Together with the spirit behind the next line of this beautiful song, she has conveyed an eternal message of optimism," he said.

'Aaj phir jeene ki tamanna hai,' says @RBI Governor @DasShaktikanta as he quotes #LataMangeshkar's iconic song.

Last 2 years have taught us to be humble & grounded in self believe and never losing confidence & optimism, he adds. pic.twitter.com/zDPOOAvAxg— CNBC-TV18 (@CNBCTV18News) February 10, 2022

Das added that the central bank has taken measures to ensure that the confidence in the domestic monetary system remains stable and optimistic. This marks the 10th time that the RBI’s MPC has decided to maintain status quo on rates, as the central bank still maintains an accommodative and dovish stance for wider economic recovery.

Lata Mangeshkar passed away on Sunday leaving behind a nation grieving the loss of its nightingale. Mangeshkar was being treated at Breach Candy Hospital in Mumbai for pneumonia for the last 29 days after she had tested positive for COVID-19.

Read Also |

RBI Monetary Policy highlights: Key lending rates unchanged; FY23 GDP growth projected at 7.8%; retail inflation at 4.5%

(Edited by : Thomas Abraham)