New Delhi: The Central Board of the Reserve Bank of India commenced its meeting held in New Delhi today, by observing two minutes silence in memory of the security force personnel who laid down their lives in Pulwama.
Arun Jaitley, Hon’ble Union Minister of Finance addressed the post-Budget meeting of the Central Board. The Hon’ble Finance Minister in his address broadly outlined the various reforms and policy measures taken by the Government over the last four years and the effects thereof.
The meeting was also attended by Shri Shiv Pratap Shukla, Minister of State for Finance, Shri Ajay Narayan Jha, Finance Secretary and Secretary (Expenditure), Shri Ajay Bhushan Pandey, Secretary (Revenue) and Shri Krishnamurthy Subramanian, Chief Economic Adviser.
The Board continued its meeting after the interaction with the Finance Minister was over. The Board reviewed the current economic situation, global and domestic challenges and other specific areas of operations of the Reserve Bank. Based on a limited audit review and after applying the extant economic capital framework, the Board decided to transfer an interim surplus of ₹ 280 billion to the central government for the half-year ended December 31, 2018. This is the second successive year that the Reserve Bank will be transfering an interim surplus.
Shaktikanta Das, Governor chaired the meeting of the Central Board. Deputy Governors Shri N. S. Vishwanathan, Dr. Viral V. Acharya, Shri B. P. Kanungo and Shri Mahesh Kumar Jain of the Reserve Bank of India, and other Directors of the Central Board of the Reserve Bank – Shri Bharat Doshi, Shri Sudhir Mankad, Shri Manish Sabharwal, Dr. Prasanna Kumar Mohanty, Shri Dilip S. Shanghvi, Shri Satish Marathe, Shri Swaminathan Gurumurthy, Ms. Revathy Iyer and Prof. Sachin Chaturvedi, attended the meeting. The Government directors Shri Subhash Chandra Garg, Secretary, Department of Economic Affairs and Shri Rajiv Kumar, Secretary, Department of Financial Services were also present.