RBI's central board passes condolence resolution in memory of Ratan Tata

The Reserve Bank's Central Board of Directors on Wednesday passed a condolence resolution in memory of industrialist Ratan Tata.

Ratan Naval Tata died at a Mumbai hospital on October 9 at the age of 86 years.

"The Board passed a condolence resolution in memory of Shri Ratan N Tata, a former Director of the Central Board," the RBI said in a statement after the 611th meeting of its Central Board of Directors in Bhubaneswar.

The central bank further said the Board reviewed the current economic and financial situation, including challenges posed by evolving geopolitical conflicts.

It also discussed the functioning of various sub-committees of the Central Board, the Ombudsman Scheme and the activities of select central office departments.

The Central Board members also took the Integrity pledge in observance of the ensuing Vigilance Awareness Week 2024.

The meeting was chaired by RBI Governor Shaktikanta Das.

Deputy governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, Swaminathan J and other directors of the Board Satish K Marathe, Revathy Iyer, Sachin Chaturvedi and Ravindra H Dholakia attended the meeting.

Ajay Seth, Secretary, the Department of Economic Affairs and Nagaraju Maddirala, Secretary, the Department of Financial Services, also participated in the meeting.