On Friday, the Central Board of the Reserve Bank of India (RBI) met under the Chairmanship of Shri Shaktikanta Das, Governor through video conference. It was the 584th meeting of the Central Board of RBI.

In this meeting, a series of decisions was taken keeping in view the current economic situation due to the impact of Covid-19 pandemic that was the declaration of dividend worth Rs.57,128 to the Central Government for the year 2019-20 and a Contingency Risk Buffer at 5.5% was to be maintained.

An official statement was released which said, “The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of COVID-19 pandemic. The Board discussed the proposal of setting up an Innovation Hub. The Board discussed various areas of operations of the Bank during the last year and approved the Annual Report and Accounts of the Reserve Bank for the year 2019-20. The Board also approved the transfer of Rs.57128 Crores as surplus to the Central Government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5%.”

Deputy Governors Shri B.P. Kanungo, Shri Mahesh Kumar Jain and Dr. Michael Debabrata Patra and other Directors of the Central Board – Shri N. Chandrasekaran, Dr. Ashok Gulati, Shri Manish Sabharwal, Dr. Prasanna Kumar Mohanty, Shri Dilip S. Shanghvi, Shri Satish K. Marathe, Shri S Gurumurthy, Ms. Revathy Iyer and Prof. Sachin Chaturvedi attended the meeting of Central Board of RBI.

Shri Tarun Bajaj, Secretary, Department of Economic Affairs and Shri Debasish Panda, Secretary, Department of Financial Services also attended the meeting.

With Warm Regards,

CL Bureau.

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