RBI discusses current macroeconomic situation, evolving challenges posed by COVID-19 in 583rd board meeting

New Delhi: Reserve Bank of India (RBI) on Friday discussed current macroeconomic situation and evolving challenges being posed by the COVID-19 pandemic in its 583rd board meeting.

The Central Board of the RBI met under the Chairmanship of RBI Governor Shaktikanta Das through video conference.

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, RBI said in a statement.

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 (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.

Deputy Governors B P Kanungo,  Mahesh Kumar Jain and Michael Debabrata Patra and other Directors of the Central Board also attended the meeting, RBI said.