RBI Embraces Podcasts to Enhance Public Communication

The Reserve Bank of India (RBI) is adopting podcasts as a new communication tool to better engage with the public, especially the youth. Governor Shaktikanta Das announced this initiative during a press conference, emphasizing the importance of staying ahead in communication strategies while focusing on transparency.

In a strategic shift towards enhanced communication, the Reserve Bank of India (RBI) has unveiled plans to launch podcasts aimed at disseminating vital financial information to the public. This decision marks a significant expansion of the central bank's communication efforts over the years, which have increasingly focused on transparency and public engagement.

RBI Governor Shaktikanta Das highlighted the rising popularity of podcasts, particularly among younger demographics, as a key factor in the decision. "We at the RBI thought this was the requirement of the time," Das remarked, underlining the role of podcasts in simplifying complex matters for the wider society.

Alongside its new podcast initiative, the RBI also announced that the repo rate would remain unchanged at 6.5 percent, continuing its neutral monetary policy for the 11th consecutive session. Moreover, the central bank adjusted its GDP forecast for 2024-25 to 6.6 percent, down from 7.2 percent, while also announcing a cut in the cash reserve ratio by 50 basis points to 4 percent, a move expected to inject Rs 1.15 lakh crore of liquidity into the banking system.

(With inputs from agencies.)