Reserve Bank of India Board Tackles Economic Challenges

The Reserve Bank of India held its 620th Central Board of Directors meeting, addressing both global and domestic economic challenges. Chaired by Governor Sanjay Malhotra, the board reviewed the risk-based deposit insurance framework and the draft report on banking trends and progress for 2024-25.

The Reserve Bank of India's Central Board convened on Friday to deliberate over prevailing global and domestic economic challenges. The meeting marked the board's 620th gathering, led by Governor Sanjay Malhotra.

Key outcomes included the approval of a new risk-based deposit insurance framework for banks, as noted in a recent statement. Additionally, discussions encompassed a review of central office department activities and the upcoming 2024-25 Trend and Progress of Banking report.

Among attendees were Deputy Governors T Rabi Sankar, Swaminathan J, Poonam Gupta, and Shirish Chandra Murmu, along with other central board directors like Nagaraju Maddirala and Satish K Marathe.

(With inputs from agencies.)