RBI Board Meet: RBI board meeting held amid Fed's indications of making loans cheaper, discussion on economic and financial situation in the country and abroad

RBI Board Meet: RBI board meeting held amid Fed's indications of making loans cheaper, discussion on economic and financial situation in the country and abroad

RBI Board Meet Update: 605th meeting of the Central Board of Directors of the Reserve Bank of India, the regulator of the banking sector, in Ekta Nagar, Gujarat. Happened in (Kevadia). In this meeting chaired by RBI Governor Shaktikanta Das, the economic and financial situation of the country and abroad due to the current global political developments (Global Geopolitical Developments) were discussed. 

Reserve Bank of India issued a release regarding this meeting saying that the RBI Board has reviewed the domestic as well as international economic and financial situation along with the challenges arising due to global geopolitical developments. In this meeting, the RBI Board has also discussed the draft report of trends and progress of banking in the country in 2022-23 along with the activities of selected central office departments.  

In this meeting of the Board of Directors of RBI, Deputy Governor Michel Debabrata Patra, M Rajeshwar Rao, T Ravi Shankar, J Swaminathan and other members of the board participated. Apart from these, Satish K Marathe, Revati Iyer, Mahindra & Mahindra Group Chairman Anand Mahindra and Ravindra H Dholakia also participated. Economic Affairs Secretary Ajay Seth participated in this meeting on behalf of the Government of India.  

The meeting of the Central Board of Directors of RBI is taking place when the US Federal Reserve indicated last week that the Federal Reserve may make three cuts in interest rates in 2024. After which the stock markets around the world, including the US and Indian stock markets, surged. There is a possibility that there may be a strong increase in foreign investment in India next year. Also, if the Federal Reserve reduces interest rates in America, RBI can also cut interest rates in India.  

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