The Central Board of Directors of the Reserve Bank of India met today at Kolkata. Dr. Raghuram Rajan, Governor, Reserve Bank of India chaired the meeting. Directors, Dr. Anil Kakodkar, Kiran Karnik, Dr. Nachiket Mor, Shri Y.H. Malegam, Prof. Dipankar Gupta, Shri G. M. Rao, Ms. Ela Bhatt, Dr. Indira Rajaraman, Y.C. Deveshwar, and Prof. Damodar Acharya attended the meeting. The meeting was also attended by the Government nominee director on the Central Board, Shri Rajiv Mehrishi, Secretary, Department of Economic Affairs. Deputy Governors Shri Harun R. Khan, Dr.Urjit Patel, Shri R. Gandhi and Shri S.S. Mundra were present.
The Board reviewed the functioning of the Reserve Bank as well as the current economic situation and global and domestic challenges and policy responses.
The Central Board meets at least once every quarter and the meeting in December every year is traditionally held in Kolkata. Apart from this, one meeting each is held in Chennai, Mumbai, and New Delhi which is typically held after the Union Budget and is addressed by the Finance Minister. The rest of the meetings are held in other state capitals by rotation. The main function of the Central Board of Directors of the Reserve Bank is to provide overall direction to the Reserve Bank’s affairs.
On December 10, 2014, the Governor and Deputy Governors met the Chiefs of Eastern Sector banks and among others, took stock of the implementation of Pradhan Mantri Jan Dhan Yojana (PMDJY) and credit scenario in the state and discussed other region specific issues.