You are here: Home » Finance » News » Others
Business Standard

RBI Governor briefs central board about the impact of monetary steps

RBI Governor Shaktikanta Das briefed board members about the impact of various monetary and regulatory measures taken by the central bank to deal with the Covid-19 crisis

RBI | Coronavirus | Shaktikanta Das

Press Trust of India  |  Mumbai 

RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das

Reserve Bank of India (RBI) Governor on Friday briefed the board members about the impact of the various monetary and regulatory measures taken by the central bank to deal with the COVID-19 crisis.

Besides other things, the RBI's central board discussed the current macroeconomic situation and evolving challenges being posed by the pandemic, the said in a release after the meeting that was held through video-conferencing.

"At the outset, the governor and deputy governors briefed the board about the overall macroeconomic conditions -- both domestic and global; financial sector situation; and the impact of various monetary, regulatory and other measures taken by the in the context of the COVID-19 pandemic," the said in a statement.

The board also deliberated on the current economic situation and the evolving challenges posed by the pandemic.

Among others, it also discussed the RBI's activities during the period (July 2019-June 2020), the Budget for the next accounting year July 2020 to March 2021 (aligned with the government's financial year), other policy and operational matters.

The RBI had taken a host of steps, including reduction in the key policy rate and measures to support the industry, to deal with the impact of the outbreak of COVID pandemic.

Deputy governors B P Kanungo, Mahesh Kumar Jain and Michael Debabrata Patra and other directors of the central board, and secretaries in the Union ministry also attended the meeting.

It was the 583rd meeting of the central board of the RBI.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, June 26 2020. 15:58 IST