Reserve Bank of India (RBI) The Central Board of Directors of India on Friday reviewed the domestic economic situation and outlook, including the challenges posed by global financial market volatility. The board of directors also approved the budget for the accounting year 2024-25, the central bank said in a statement. The 607th meeting of the Central Board of Directors of RBI was held in Nagpur under the chairmanship of Governor Shaktikanta Das. “The Board of Directors reviewed the global and domestic economic situation and outlook, including the challenges posed by geopolitical developments and global financial market volatility,” the RBI said.
Discussion took place on these important issues
Apart from this, the Board of Directors also discussed the activities of RBI. These include progress in digital payments, consumer education and awareness during the current accounting year 2023-24. Central Board of Directors directors Satish K Marathe, Revathi Iyer, Sachin Chaturvedi, Venu Srinivasan and Ravindra H Dholakia attended the meeting. Apart from Deputy Governor Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Shankar and Swaminathan J, Economic Affairs Secretary Ajay Seth and Department of Financial Services Secretary Vivek Joshi also participated in the meeting.
Reserve Bank offices will remain open on March 30, 31
All designated branches of Reserve Bank of India (RBI) government related offices and agency banks will remain open as per normal working hours on March 30 and 31, the last two days of the current financial year, for the convenience of taxpayers. In view of the annual closure of government accounts, the Reserve Bank said in a statement, electronic transactions can be done till the stipulated time even after March 30 and March 31 being Saturday and Sunday. According to the statement, “Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) system will continue till 12 midnight on March 31, 2024.” Necessary arrangements have also been made to conduct special clearing drives across the country to facilitate government receipts and payments, it said.
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