RBI’s professional management helped deal with external uncertainties: Sitharaman | Loktej Business News

RBI’s professional management helped deal with external uncertainties: Sitharaman |  Loktej Business News

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Mumbai/New Delhi, April 1 (Hindustan Reporter) Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said the professional management of the Reserve Bank of India (RBI) has significantly improved India’s ability to deal with external imbalances and uncertainties.

Union Minister Sitharaman was addressing a program organized here on the occasion of the 90th Foundation Day of RBI. In his address, the Finance Minister appreciated the role of the Central Bank in improving the balance sheet problems of banks. Sitharaman said the asset quality management and prompt corrective action framework are all big steps, which the Reserve Bank has implemented well.

Prime Minister Narendra Modi and RBI Governor Shaktikanta Das also addressed the program organized in Mumbai on the 90th Foundation Day of RBI on April 1. Many prominent persons including Maharashtra Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis and Ajit Pawar were present on the occasion.

It is noteworthy that RBI was established as the central bank of India in the year 1935. It was nationalized on January 1, 1949.

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