Post-budget RBI Board meeting: FM Nirmala Sitharaman addressed RBI Central Board

Delhi: The Reserve Bank of India's (RBI) Central Board of Directors met today for its customary post-Budget meeting, which had Finance Minister Nirmala Sitharaman in attendance, along with the two ministers of state for finance, after the Union Budget 2023-24.

The RBI Governor Shaktikanta Das was also present at the meeting.

Shaktikanta Das on policies

Shaktikanta Das said that the inflation target is evenly balanced. "Real interest rates have just come into positive territory and persistence of negative real rates can create risks which must be avoided", he added.

The RBI's rate hikes are part of the process of maintaining price stability. It is up to banks to decided their rates, he said.

FM Sitharaman highlighted that the new income tax regime has effectively left more money in the hands of the people, so it is up to the person to decide what to do with their money, to save or spend.

Sitharaman on Adani-Hindenburg row

The FM on Supreme Court concerned Adani-Hindenburg row said, "India's regulators are very experienced and they are experts in their domains. They are on their toes as always, not just now."

Sitharaman on crypto

"Crypto involves a lot of technology, it's 99% technology. We are talking to all countries if all the countries can achieve a standard operating procedure which will be effective while following a regulatory framework. It's under discussion with G20 nations", she added.