RBI Central Board reviews economic outlook, approves FY27 budget

The Central Board of Directors of the Reserve Bank of India held its 622nd meeting on 20 March 2026 in Patna under the chairmanship of Governor Sanjay Malhotra.

The board reviewed the evolving global and domestic economic conditions, including geopolitical developments and their impact on financial markets, along with associated risks.

During the meeting, the board approved the Reserve Bank's budget for the accounting year 2026-27 and its Medium Term Strategy Framework, Utkarsh 3.0, for the period 2026-29.

Deputy Governors T. Rabi Sankar, Swaminathan J., Poonam Gupta and Shirish Chandra Murmu, along with other Central Board members and senior government representatives, were present at the meeting.

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