Adversitement
RBI Central Board Reviews Economic Situation, Approves Budget for 2024-25
Published On : 2024-03-23T10:58:21+0530 [ IST ] |
Author : Mayur_Tembhare
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India :
The Central Board of Directors of the Reserve Bank of India (RBI) convened in Nagpur, chaired by Governor Shaktikanta Das, to conduct a comprehensive review of the prevailing global and domestic economic conditions.
During the meeting, the Board deliberated on the challenges posed by geopolitical developments and the heightened volatility observed in global financial markets. Recognizing the significance of these factors in shaping economic trajectories, the Board underscored the importance of vigilance and proactive measures to navigate potential risks effectively.
In addition to assessing the external environment, the Board also dedicated considerable attention to the Reserve Bank's initiatives and activities. Discussions centered on the progress achieved in advancing digital payments and enhancing consumer education and awareness initiatives throughout the fiscal year 2023-24.
The Board acknowledged the pivotal role of digital payments in fostering financial inclusion and promoting a cashless economy. Moreover, efforts to educate and empower consumers in navigating financial matters were recognized as crucial steps towards enhancing financial literacy and resilience.
One of the key outcomes of the meeting was the approval of the Reserve Bank's budget for the upcoming accounting year 2024-25. The Board's endorsement of the budget reflects a strategic roadmap aligned with the Bank's objectives and priorities, ensuring the seamless execution of its mandate in the coming fiscal year.
In conclusion, the Central Board's deliberations underscored the RBI's commitment to proactively address economic challenges while leveraging digital advancements to foster financial inclusion and consumer empowerment. The approved budget for the fiscal year 2024-25 stands as a testament to the Bank's strategic foresight and dedication to fulfilling its mandate effectively.
Source : Reserve bank of india
Tags : consumer education , economic situation , RBI , digital payments , geopolitical developments , global financial market , Reserve Bank of India , Central Board of Directors , budget approval ,
Summary : The Reserve Bank of India's Central Board of Directors, chaired by Governor Shaktikanta Das, convened in Nagpur to assess the global and domestic economic landscape. The Board addressed challenges stemming from geopolitical tensions and financial market volatility. Additionally, discussions encompassed the Reserve Bank's initiatives in digital payments and consumer education during the fiscal year 2023-24. Notably, the Board approved the Bank's budget for the upcoming fiscal year 2024-25.
Adversitement