The 582nd meeting of the Central Board of Directors of Reserve Bank of India was held at New Delhi today.
Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance, addressed the Directors of the Central Board. The Hon’ble Finance Minister in her address outlined the thinking behind the Union Budget 2020-21 and the focus areas of the Government. The Finance Minister indicated increased complementarity in policy between the RBI and the Government to address growth concerns. Complimenting the Finance Minister on the Budget, the Board members made various suggestions for consideration of the Government.
The Union Finance Minister was accompanied by Shri Anurag Singh Thakur, Minister of State for Finance and Corporate Affairs, Shri Tuhin Kanta Pandey, Secretary (Investment and Public Asset Management), Dr. T. V. Somanathan, Secretary (Expenditure) and Dr. Krishnamurthy Subramanian, Chief Economic Advisor.
The Board in its meeting reviewed the current economic situation, global and domestic challenges and various areas of operations of the Reserve Bank. The Board recommended aligning the financial year of RBI, currently July-June, with the Government’s fiscal year (April-March) from the year 2020-21 and approved forwarding a proposal to the Government for its consideration.
Shri Shaktikanta Das, Governor chaired the meeting of the Central Board. Deputy Governors Shri B. P. Kanungo, Shri Mahesh Kumar Jain, Dr. M. D. Patra and other Directors of the Central Board: Shri Natarajan Chandrasekaran, Shri Bharat N. Doshi, Shri Sudhir Mankad, Shri Manish Sabharwal, Dr. Prasanna Kumar Mohanty, Shri Dilip S. Shanghvi, Shri Satish K. Marathe, Shri S. Gurumurthy, Ms. Revathy Iyer and Prof. Sachin Chaturvedi attended the meeting. The Directors of the Government of India on the Central Board Shri Rajiv Kumar, Finance Secretary and Secretary (Financial Services) and Shri Atanu Chakraborty, Secretary (Economic Affairs) also attended the meeting.
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