The Reserve Bank of India has improved its rating to “A+” among top central banks globally in the annual rankings for the second year in succession. According to a report published by Global Finance magazine, this top rank has been accorded to only three banks across the world: RBI, Denmark’s European Investment Bank, and Switzerland’s Swiss National Bank.
This is the same rating as a year ago. The report attributes the same to present RBI Governor Shaktikanta Das, as his critical decisions and strategies have begun proving effective. The report heaped praise upon Das for keeping inflation under a tight leash. It ensured progress of economic activity while keeping the Indian currency and interest rate stable.
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Criteria for “A+” Rating
The criteria used by Global Finance, as in the past, range from “A” to “F”, for the ability to keep rising living costs at bay, manage inflation, design new economic policies for growth, stabilize currency in line with international markets, and regulate interest rates. All these criteria have been matched, with results way above expectations churned out by Governor Shaktikanta Das.
The magazine commends Das for having implemented sound monetary policies that have prevented runaway inflation from happening in India in recent times. Global Finance has prepared these rankings of central bank governors since 1994 as an annual report based on economic performance. Besides Das, others who made it to the top included Christian Kettel Thomsen of the European Investment Bank and Thomas Jordan of the Swiss National Bank. Kettel Thomsen held various high positions in the Danish government, while Jordan held leading positions in international banking. These exemplary activities in the field of finance did not pass unobserve
