RBI Board meets for the first time after the release of Q1 GDP numbers

The Reserve Bank of India Board reviewed reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments at its 603rd meeting held in Indore.

The board meeting chaired by the governor Shaktikanta Das met for the first time after the government released the June quarter growth numbers during which the economy grew by 7.8 percent, tad lower than 8 percent expected by the central bank for the quarter.

The Board in its meeting reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments.


Deputy governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, Swaminathan J and other directors of the central board – S Gurumurthy, Revathy Iyer, Sachin Chaturvedi, Anand Mahindra, Pankaj Patel and Ravindra Dholakia attended the meeting. Shri Ajay Seth, secretary, department of economic affairs and Vivek Joshi, secretary, department of Financial Services also attended the meeting

The Board also discussed various areas of operations of the Reserve Bank of India including the functioning of Local Boards and activities of select Central Office Departments.