“He emphasized on the need for the states to focus on fiscal consolidation, improving quality of expenditure and other issues related to the fiscal health of states such as contingent liabilities/guarantees, etc,” the RBI said in a release.
Apart from market borrowing, the meeting reviewed administration of the consolidated sinking fund and guarantee redemption fund, matters pertaining to state government guarantees and short-term financial accommodation to states from the RBI.
The review comes at a time when state government borrowings have risen sharply, with state bond issuances so far this fiscal year outstripping the previous year’s quantum by more than ₹60,000 crore.
ED Appointment
RBI has appointed P Vasudevan as executive director effective from July 3. He will look after the department of currency management, corporate strategy, budget and enforcement departments at RBI. As CGM Vasudevan was in-charge of the department of payment and settlement systems. He holds a bachelor’s degree in commerce and is a fellow of the Institute of Cost Cccountants of India.
