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RBI's central board reviews domestic, global economic situation

RBI's central board reviews domestic, global economic situation

The board's 591st meeting was held under the chairmanship of RBI Governor Shaktikanta Das whose tenure has been extended by three years up to December 2024.

The RBI's central board deliberated on possible measures for addressing the emerging challenges, the central bank said in a release. The RBI's central board deliberated on possible measures for addressing the emerging challenges, the central bank said in a release.

The Central Board of Directors of the Reserve Bank of India (RBI) on Friday reviewed the present domestic as well as global economic situation and challenges. 

The board's 591st meeting was held under the chairmanship of RBI Governor Shaktikanta Das whose tenure has been extended by three years up to December 2024.

It deliberated on possible measures for addressing the emerging challenges, the RBI said in a release.

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"The board also discussed "the working of sub-committees of the Central Board and activities of a few Central Office Departments including the nationwide survey among bank customers regarding banks' grievance redress system and the functioning of the Ombudsman schemes," the central bank further stated in the release.

"The board also congratulated the Governor on his reappointment," the RBI added.

Deputy Governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, and T Rabi Sankar attended the meeting. Other directors on the board - N Chandrasekaran, Satish K Marathe, S Gurumurthy and Sachin Chaturvedi - were also present.

Besides, Debasish Panda, Secretary, Department of Financial Services and Ajay Seth, Secretary, Department of Economic Affairs, attended the meeting.

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Das was appointed the RBI's 25th Governor on December 11, 2018, for a period of three years after the abrupt resignation of his predecessor Urjit Patel.

He is the first RBI Governor to get an extension after the BJP-led government came to power in 2014.