RBI board reviews challenges due to geopolitical conflicts in meeting

The central board of the Reserve Bank of India, which met today in Bhubaneswar, discussed challenges due to geopolitical tensions, among other issues, the central bank said in a press release.

“The board reviewed the current economic and financial situation, including challenges posed by evolving geopolitical conflicts.”

Foreign investors have been pulling out of Indian markets following conflicts between Iran and Israel. There is speculation that Israel will retaliate against Iran for its recent missile attack.

The RBI board also passed a condolence resolution in memory of Ratan Tata, a former director of the central board.

The board discussed the functioning of various sub-committees of the central board, the Ombudsman Scheme, and activities of select Central Office Departments, according to the press release.

The meeting, chaired by Shaktikanta Das, governor of RBI, was attended by all four deputy governors and other directors of the central board, including Satish K Marathe, Revathy Iyer, Sachin Chaturvedi, and Ravindra H Dholakia.

Ajay Seth, secretary of the Department of Economic Affairs, and Nagaraju Maddirala, secretary of the Department of Financial Services, also attended the meeting.