The 601st meeting of the Central Board of Directors of the Reserve Bank of India was held in Hyderabad on Friday. In this, the directors reviewed the impact of the country’s economic policy and geopolitical global events.
RBI said in a press release, “The board reviewed the activities of the Reserve Bank in the recent accounting year 2022-23. The board also approved the budget for the accounting year 2023-24.
The meeting was chaired by RBI Governor Shaktikanta Das. The meeting was also attended by four governors of the central bank – Mahesh Kumar Jain, Michael Patra, M. Rajeswara Rao and T. Rabi Shankar. Other directors Sachin Marathe, Sachin Chaturvedi, Pankaj Patel and Ravindra Dholakia were also present on the occasion. Secretary, Department of Financial Affairs, Ajay Seth, Secretary, Department of Financial Services, Vivek Joshi were also present in the meeting.
This latest meeting has taken place in the context of the bank crisis in the US. Due to the bank crisis in America, the Silicon Valley Bank has collapsed. Due to the upheaval in the US banking sector, the Federal Reserve has taken a dovish stance on the future.
In the wake of the bank crisis in the US, the RBI has recently clarified that India’s banking system is sound and on sound parameters.
