RBI Pays Tribute to Ratan Tata and Reviews Economic Strategies

The Reserve Bank of India's Central Board of Directors honored industrialist Ratan Tata, who passed away on October 9 at 86. The board also assessed current economic challenges posed by geopolitical conflicts and reviewed the functioning of various sub-committees during its 611th meeting.

The Reserve Bank of India (RBI) honored the late Ratan Tata, a former Director of its Central Board, during a key meeting in Bhubaneswar. The industrialist passed away at a Mumbai hospital at age 86. The board expressed its condolences in a formal resolution.

In addition to paying tribute to Tata, the Central Board reviewed the present economic and financial climates, focusing on challenges stemming from ongoing geopolitical tensions. The board discussed the performance of its sub-committees, the Ombudsman Scheme, and certain central office department activities during its 611th meeting.

The meeting was chaired by RBI Governor Shaktikanta Das and was attended by Deputy Governors and several directors of the board. Participants also included Ajay Seth, Department of Economic Affairs Secretary, and Nagaraju Maddirala, Department of Financial Services Secretary. The members took an Integrity pledge in anticipation of Vigilance Awareness Week 2024.

(With inputs from agencies.)