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RBI Governor briefs board members on impact of measures taken to deal with COVID19

The RBI governor held a meeting with the board through video-conferencing. The RBI said in a release that at the outset, the governor and deputy governors briefed the board about the overall macroeconomic conditions, both domestic and global; financial sector situation; and the impact of various monetary, regulatory and other measures taken by the RBI in the context of the COVID-19 pandemic.

The statement said that the board also deliberated on the current economic situation and the evolving challenges posed by the pandemic.

Among others, it also discussed the RBI’s activities during the period from July 2019-June 2020, the Budget for the next accounting year July 2020 to March 2021 aligned with the government’s financial year, other policy and operational matters.

The RBI had taken a host of steps, including reduction in the key policy rate and measures to support the industry, to deal with the impact of the outbreak of COVID pandemic.

Deputy governors B P Kanungo, Mahesh Kumar Jain and Michael Debabrata Patra and other directors of the central board, and secretaries in the Union finance ministry also attended the meeting.

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