The Central Board of the Reserve Bank of India met today in Jaipur. The Central Board of Directors of the Reserve Bank meets at least once every quarter. The Board has scheduled meetings in Mumbai, Chennai and Kolkata each year. The post-budget meeting of the Board, traditionally held in New Delhi, is addressed by the Union Finance Minister. The other meetings of the Board are held in the remaining state capitals by rotation. The Central Board provides overall direction to its affairs of the Reserve Bank.

Dr D. Subbarao, Governor, Reserve Bank of India chaired the Central Board meeting. Shri Lakshmi Chand, Shri K.M. Birla, Directors along with newly nominated Directors - Shri Y.H. Malegam, Dr. Anil Kakodkar, Shri Kiran Karnik, Prof. Dipankar Gupta, Shri G.M.Rao, Ms. Ela Bhatt and Dr. Indira Rajaraman were present at the meeting. Deputy Governors Dr. K.C.Chakrabarty, Dr. Subir Gokarn, Shri Anand Sinha and Shri H.R. Khan were also present. The meeting reviewed key economic, monetary and financial developments. The Governor and Deputy Governors also briefed the new Board members on the objective and functions of the various departments of the Reserve Bank.

On the day before the Board meeting, the Reserve Bank Governor and Deputy Governors interacted with the students of local colleges/universities in a town hall event organised at the Birla Auditorium, Jaipur. They also addressed a meeting organised by the Rajasthan Chamber of Commerce, highlighting issues and challenges that the Reserve Bank is currently dealing with.

While in Jaipur, the Reserve Bank Governor met Shri Ashok Gehlot, the Honble Chief Minister of Rajasthan and discussed issues of mutual interest. The Governor and Deputy Governors also met the senior officials of the State and Central Governments, National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB) and bankers apart from the Reserve Bank (officials) in a special State Level Bankers Committee (SLBC) meeting held on October 12, 2011 in Jaipur.

On October 12, 2011, the Governor inaugurated the Newsibition at Jawahar Kala Kendra, Jaipur in the presence of students from Maharani Gayatri Devi Girls School, Neerja Modi School and Saraswati Senior Secondary School. The Governor briefly interacted with the students and answered their questions relating to the Indian economy and the Reserve Bank functioning.

Ajit Prasad
Assistant General Manager