RBI Releases Minutes of the Meeting | 21 Jan 2020
Why in News
Recently, the Reserve Bank of India (RBI) has released the minutes of the 579th meeting of Central Board of Directors for the first time as part of the central bank’s transparency initiative.
Key Points
- The disclosure of the information is considered as a measure to enhance public awareness about the functioning of the RBI.
- The minutes of the meetings of the Central Board will be uploaded on the RBI’s website under provisions of Section 4 of the Right to Information (RTI) Act.
- Section 4 of the RTI Act requires suo motu disclosure of information by each public authority.
- So far, the regulator only shared the minutes of board meetings in response to queries under the RTI Act.
- In future, the minutes will be placed on the RBI website within two weeks from the date of its confirmation in the next meeting of the Central Board and on being signed by the chairman in the same meeting.