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Governance framework of RBI needs further examination: RBI Board

The Board discussed issues related to liquidity and credit delivery to economy

Reuters  |  New Delhi 

RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das at the press conference in Mumbai | Photo: Kamlesh Pednekar

The Reserve Bank of India's board deliberated on the central bank's governance framework and has decided that the matter required further examination, the central bank said on Friday.

The statement released after the central bank's board meeting, which was headed by the new RBI Governor Shaktikanta Das, said they reviewed the current economic situation and various domestic and global challenges.

The board also looked into matters relating to liquidity, credit delivery to the economy, issues of currency management, financial literacy and discussed the draft report on trends and the progress of banking in India, the statement said.

This is the first board meeting after the RBI's former chief Urjit Patel's resignation earlier this week following widening differences between the government and the central bank.

The RBI's board meetings have come under the spotlight in recent months since the government started putting pressure on the central bank to ease lending curbs and hand over more of its reserves to fund India's fiscal deficit.

First Published: Fri, December 14 2018. 15:57 IST