RBI Board Reviews Economic Outlook under New Governor

The Reserve Bank of India's central board, led by new Governor Sanjay Malhotra, evaluated global and domestic economic conditions during its 612th meeting. The board acknowledged Shaktikanta Das's contributions as former governor. Discussions included trends in banking and the activities of specific departments.

The Reserve Bank of India's central board convened on Friday to assess both global and domestic economic landscapes. The meeting was chaired by the recently appointed Governor, Sanjay Malhotra. As part of its 612th session, the board recognized the impactful tenure of former Governor Shaktikanta Das, who stepped down earlier this month after an extended six-year service period.

In its statement, the RBI highlighted the board's comprehensive review of the current economic situation and projections for the future. Key topics of discussion included the performance of central office departments and the preliminary report on the Trend and Progress of Banking in India, 2023-24.

Attendees of the meeting included notable central board directors such as Satish K Marathe, Revathy Iyer, Sachin Chaturvedi, Venu Srinivasan, and Ravindra H Dholakia, as well as Deputy Governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J. Secretary of the Department of Financial Services, Nagaraju Maddirala, was also present.

(With inputs from agencies.)