RBI board News

The Reserve Bank of India (RBI) will transfer Rs 99,122 crore as surplus to the Centre for nine months ended March 31, 2021. According to the RBI, the Board in its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of Covid-19 on the economy.

With an aim to create policies on employment based on credible data, Prime Minister Narendra Modi has set up a task force.

RBI Governor Urjit Patel on Saturday attributed the banks grappling with high bad loans to legacy issues saying they are mostly on account of credit facility provided for long-gestation projects before 2011-12.

Former Chief Secretary of Gujarat Sudhir Mankad and two others were today appointed as non-official directors to the board of Reserve Bank of India (RBI)

As per the convention, Economic Affairs Secretary besides the Financial Services Secretary is part of Central Board Directors of RBI.

Finance Minister Arun Jaitley will address board members of the Reserve Bank here on March 22 to inform them about steps taken in the Budget for 2015-16 to boost economic growth and contain fiscal deficit.

RBI's Central Board of Directors on Thursday discussed challenges facing the domestic as well as the global economic situation at a review meeting here of the central bank.

RBI on Thursday said its Board has approved HR restructuring by creating an additional post of Chief Operating Officer (COO) in the rank of Deputy Governor and will approach government for required legislative changes.

It has been a custom that the Finance Minister addresses RBI board, consisting of RBI Governor and existing three deputy governors, after the Budget.