RBI central board meets at Shimla
The Central Board of Directors of the Reserve Bank, chaired by Raghuram Rajan, met on Thursday at Shimla to review the functioning of the central bank as well as the current economic situation and global and domestic challenges and policy responses. The last Board meeting in Shimla was held in 2007. The meeting was attended by Anil Kakodkar, Kiran Karnik, Nachiket Mor, Y.H. Malegam, Dipankar Gupta, G. M. Rao, Indira Rajaraman and Damodar Acharya. Government nominee director on the Central Board G. S. Sandhu, Secretary, Department of Financial Services also attended the meeting. Deputy Governors Urjit R. Patel and R. Gandhi were also present. Following the meeting, RBI Governor met the Chief Minister of Himachal Pradesh Virbhadra Singh and the State Level Bankers Committee and discussed issues of mutual interest with them. Rajan appreciated the developmental efforts of the state and said that Himachal Pradesh with approximately 3900 persons per branch had a better access ratio than most states. There were, however, issues in reaching remote and difficult areas where banking services had still not reached. The availability of technology solutions, especially mobile technology and more effective use of banking correspondents would help further financial inclusion, the Governor stated.
The Central Board of Directors of the Reserve Bank, chaired by Raghuram Rajan, met on Thursday at Shimla to review the functioning of the central bank as well as the current economic situation and global and domestic challenges and policy responses. The last Board meeting in Shimla was held in 2007. The meeting was attended by Anil Kakodkar, Kiran Karnik, Nachiket Mor, Y.H. Malegam, Dipankar Gupta, G. M. Rao, Indira Rajaraman and Damodar Acharya. Government nominee director on the Central Board G. S. Sandhu, Secretary, Department of Financial Services also attended the meeting. Deputy Governors Urjit R. Patel and R. Gandhi were also present. Following the meeting, RBI Governor met the Chief Minister of Himachal Pradesh Virbhadra Singh and the State Level Bankers Committee and discussed issues of mutual interest with them. Rajan appreciated the developmental efforts of the state and said that Himachal Pradesh with approximately 3900 persons per branch had a better access ratio than most states. There were, however, issues in reaching remote and difficult areas where banking services had still not reached. The availability of technology solutions, especially mobile technology and more effective use of banking correspondents would help further financial inclusion, the Governor stated.
