RBI Central Board of Directors Holds 614th Meeting in Trivandrum
The Reserve Bank of India Act, 1934 mandates that the Central Board meet at least six times a year and at least once in each quarter
RBI – RBI Central Board Meeting – RBI 614th meeting – taxscan
RBI – RBI Central Board Meeting – RBI 614th meeting – taxscan
The 614th meeting of the Central Board of Directors of the Reserve Bank of India (RBI) was held today in Thiruvananthapuram, Kerala, under the chairmanship of Shri Sanjay Malhotra, Governor of the RBI.
The Board reviewed the state of the global and domestic economic landscape, assessing challenges arising from geopolitical and financial market developments. It also discussed the activities undertaken by RBI for the accounting year 2024-25 and approved the Bank’s budget for 2025-26.
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The meeting was attended by Deputy Governors Shri M. Rajeshwar Rao, Shri T. Rabi Sankar, and Shri Swaminathan J., along with other Directors of the Central Board, including Shri Satish K. Marathe, Smt. Revathy Iyer, Prof. Sachin Chaturvedi, and Dr. Ravindra H. Dholakia.
This meeting, held in Thiruvananthapuram - capital of Kerala is consequent to the mandate under Section 13 of the Reserve Bank of India Act, 1934, which requires that the Central Board meet at least six times a year and at least once in each quarter.
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The Act also allows any four Directors to request a meeting, upon which the Governor is required to convene it without delay. As per the law, the Governor presides over the meeting, and in his absence, a Deputy Governor authorized under Section 8(3) of the Act takes charge. In case of a tie in voting, the presiding officer has a casting vote.
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The 613th meeting of the RBI Central Board was previously held in New Delhi in February, chaired by Governor Sanjay Malhotra. During the 613th meeting, the Board reviewed global and domestic economic conditions and the impact of geopolitical developments. Union Finance Minister Nirmala Sitharaman had then addressed the Board, outlining the vision and key focus areas of the Union Budget 2025-26, emphasizing fiscal prudence and long-term economic growth under the Viksit Bharat initiative.
Similarly, the 612th meeting was held on December 20, 2024 at Guwahati reviewed economic trends and discussed the activities of key RBI departments. The meeting also included an appreciation for the contributions of former RBI Governor Shaktikanta Das and deliberations on the draft Report on Trend and Progress of Banking in India for 2023-24.
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