Aizawl, Oct 15: The Reserve Bank of India on Thursday held its Central Board Meet in Aizawl which was the first RBI’s Central Board meeting in Mizoram.
Chaired by RBI’s Governor Dr. Raghuram G. Rajan, the board meeting reviewed the current economic situation, global and domestic challenges and policy responses.
The board meeting was attended by Directors of the Central Board of the RBI Dr. Nachiket Mor, Shri Y.C. Deveshwar, Prof. Damodar Charya and Government nominee director, Shri Ajay Tyagi, Additional Secretary (Investment) Department of Economic Affairs. Deputy Governors Shri Harun R. Khan, Dr. Urjit R.Patel, Shri R. Gandhi and Shri S.S Mundra of the RBI also participated at the Central Board Meeting.
In the afternoon, Lal Thanhawla, Hon’ble Chief Minister of Mizoram and Dr. Raghuram G. Rajan, Governor, RBI, inaugurated the Reserve Bank’s sub-office in Aizawl.
Speaking to media later this evening, Dr. Raghuram G. Rajan said the Aizawl office of the RBI will have Financial Inclusion and Development Department, Consumer Education and Protection Cell, Market Intelligence Unit and Human Resource Management Department.
He also said that the RBI would look into providing more room for all banks operating in the state to extend loan to the customers.
He added that payment bank would the best suitable in a hilly state like Mizoram.
Appreciating the RBI’s initiative to open a new office in Aizawl, Chief Minister Lal Thanhawla while inaugurating the sub-office said, “Today is red letter day in the financial history of Mizoram as the new branch of RBI has been inaugurated today”.
Finance Minister Lalsawta in his remarks also said that the opening of sub-office was a milestone for Mizoram. “It is a great day. Banking services will now henceforth be much more improved with the RBI having an office in Mizoram”, he added.
Later this afternoon, Governor Dr. Raghuram G. Rajan also had an one-to-one meeting with Chief Minister Lal Thanhawla and discussed issues like high interest rates being charged by some non-banking finance companies. The two leaders also discussed certain issues including feasibility of opening foreign exchange counter at Lunglei and Champhai in order to boost border trade; conducting training programmes for the state government officials on various RBI related issues and precaution to be taken by the Government of Mizoram to protect the interest of depositors of various savings/investment schemes run by private persons/institutions.
Lal Thanhawla also today chaired a special State Level Bankers’ Committee (SLBC) meeting with the Reserve Bank Governor co-chairing the meeting during which certain issues like credit-ration in Mizoram, appointment of one Mizo speaking person at the Central Pension Processing Centre to address the challenges faced by pensioners were discussed.
The Governor also appealed to banks to provide full support to various financial inclusion schemes and steps taken by the Government.
The RBI will is also intended to open its office in Imphal, Manipur on 17 October. With these two additions, the RBI will now have offices in five of the seven Northeastern states.