The Central Board of the Reserve Bank of India (RBI) met today (August 14, 2020) under the Chairmanship of Shri Shaktikanta Das, Governor through video conference. This was the 584th meeting of the Central Board.

The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of COVID-19 pandemic. The Board discussed the proposal of setting up an Innovation Hub. The Board discussed various areas of operations of the Bank during the last year and approved the Annual Report and accounts of the of the Reserve Bank for the year 2019-20. The Board also approved the transfer of ₹57128 crore as surplus to the Central Government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5%.

Deputy Governors Shri B.P. Kanungo, Shri Mahesh Kumar Jain and Dr. Michael Debabrata Patra and other Directors of the Central Board – Shri N. Chandrasekaran, Dr. Ashok Gulati, Shri Manish Sabharwal, Dr. Prasanna Kumar Mohanty, Shri Dilip S. Shanghvi, Shri Satish K. Marathe, Shri S Gurumurthy, Ms. Revathy Iyer and Prof. Sachin Chaturvedi attended the meeting. Shri Tarun Bajaj, Secretary, Department of Economic Affairs and Shri Debasish Panda, Secretary, Department of Financial Services also attended the meeting.

(Yogesh Dayal)    

Chief General Manager

Contingency risk buffer maintained, while the central bank approved surplus transfer and annual accounts amid COVID-19 measures. The Central Board reviewed the Bank's monetary and regulatory measures addressing COVID-19, approved the Annual Report and accounts for 2019-20, authorised transfer of surplus to the Central Government for that year, and decided to maintain the Contingency Risk Buffer at 5.5%.