 "(From left to right) N S Vishwanathan, M D, Patra, R Gandhi, and S S Mundra with Urjit Patel, Governor, RBI during the bi-monthly monetary policy in Mumbai (Pic: Kamlesh Pednekar)")
Reserve Bank Governor Urjit Patel will chair the central board meeting in Kanpur on Thursday, October 20.
This is first such instance that RBI will hold the meeting at this industrial city of Uttar Pradesh. It also happens to be the first central board meet under new Governor.
Patel will reach Kanpur on Wednesday evening and will have interaction with industrialists and technocrats here, said Deepesh Tewari, Manager (Personnel).
Tewari said there is no prior information about whether the Governor will interact with the media or not.
The Central Board meets at least once every quarter. Apart from holding meetings in Mumbai, Chennai, Kolkata and one in New Delhi after the Union Budget which is addressed by the Finance Minister, the rest of the meetings are held in other state capitals by rotation. The main function of the Central Board of Directors of the Reserve Bank is to provide overall direction to the Reserve Bank’s affairs.
Financial Express reported that earlier this year in July, RBI's central board had met in Bengaluru under the chairmanship of the then governer Raghuram Rajan. It reviewed the activities of the board for payment and settlement system for the year ended March 2016 and discussed the draft annual report for 2015-16. The board met in the city after a span of seven years.
