Nirmala Sitharaman Speaks On Retail Investors, Rate Hike And Blockchain: 10 Points

Finance Minister Nirmala Sitharaman has commented on the hike in the stock markets and RBI repo rate

Mumbai (Maharashtra):
Finance Minister Nirmala Sitharaman has expressed her views on a range of issues during the last 24 hours, ranging from the surprise decision of the Reserve Bank of India (RBI) to hike repo rates to volatility in the stock markets in blockchain technology and digital currency.

Let’s take a look at some of his key comments in 10 points.

  1. Finance Minister Nirmala Sitharaman on Saturday said the Reserve Bank of India’s (RBI) recent decision to hike key policy interest rates is a part of a synchronized program by central banks globally.

  2. “It (rate hike) came as a surprise as it came between two monetary policy reviews,” he said.

  3. While attending an event on the same day, the finance minister flagged anonymity as an “inherent risk” in blockchain technology and called for caution in the future with increased use of this technology.

  4. “What is anonymity… an unknown element in this whole matter. The anonymity of the person or whatever or robot is what we have to fully prepare ourselves for as a future challenge,” Ms Sitharaman told PTI. Said accordingly.

  5. The finance minister clarified that using distributed ledger technology (DLT), also known as blockchain, is “absolutely imperative” and the government also supports its use.

  6. Describing anonymity as a “powerfully unavoidable” in the whole equation, Ms Sitharaman said, “Unless we are able to protect ourselves from that anonymous element, which itself may pose an inherent risk, we may find ourselves first.” would be exposing much more than I could have imagined.”

  7. On the recent volatility witnessed in the Indian stock markets, the Finance Minister said that retail investors have played an important role in the markets over the past two years, acting as a shock absorber, especially in difficult times.

  8. “Indian retail investors, especially during the last two years, have played an important role; they have shown the world what they can do by standing unlike foreign portfolio investors (FPIs) and being a shock absorber,” Ms Sitharaman said. Addressing the Jayanti, he said. Celebration of National Securities Depository Limited (NSDL).

  9. “On an average 4 lakh new demat accounts were opened every month in 2019-20, it has tripled to 12 lakh per month in 2020-21 and has increased to around 26 lakh per month in 2021-22,” Ms Sitharaman said. Competition.

  10. His remarks came as foreign portfolio investors (FPIs) have emerged as net sellers in recent weeks. In the first week of May, foreign portfolio investors pulled out Rs 6,417 crore from the Indian stock markets.

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