The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation" over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.
He said, "The perspectives of the central bank and the Finance Ministry may differ at certain times but I believe in my tenure we have been able to settle such things."
Das said restoring a balance between inflation and growth in the economy remains an important task for the Reserve Bank.
While making decisions on things, Governors keep in mind the needs of the broader economy and eventually it becomes a judgment call every time, he added.
Das also focused on the wide-ranging 'consultative approach' and the emphasis on the need for financial inclusion during his 6-year tenure.
During his tenure, Shaktikanta Das announced several innovative products that were related to the UPI, which he said had emerged as a 'pioneer' in the global payments system. He said he will closely monitor the pan-India rollout of Unified Lending Interface, the digital platform for streamlining and speeding up the loan approval process.
The ULI is expected to allow borrowers to avail credit while ensuring ease of processing customer information for lenders.
He said that the supervisory methods of the central bank have 'significantly improved' and are 'much sharper' now.
"We have given a lot of attention to cyber security. That is a continuing task. It will be a continuing challenge for every central bank including RBI," Shaktikanta Das said during the interaction with journalists in RBI headquarters in Mumbai on his final day at office.
He expressed thanks for support from the Prime Minister, Finance Minister, and stakeholders in the financial sector through a string of posts on X.
"Will demit office as Governor RBI later today. Thank you, everyone, for your support and good wishes," Das wrote on the social media site.
The government has made senior bureaucrat Sanjay Malhotra the RBI governor to be, which took charge of the central bank on Tuesday. Malhotra is an Indian Administrative Service officer belonging to the 1990 batch from the Rajasthan cadre. His previous posting was as Revenue Secretary in the Ministry of Finance.
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