New Delhi, Aug. 14 -- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and the Reserve Bank of India Governor Sanjay Malhotra, co-chaired the BRICS Finance Ministers and Central Bank Governors meeting in Jaipur on August 12-13, where the Governor highlighted the pivotal role central banks play in maintaining price and financial stability.

"The Governor highlighted the pivotal role central banks play in maintaining price and financial stability. Cooperation between central banks is crucial for building a resilient, efficient and inclusive financial system," the RBI said on X.

The central bank noted that the Governor acknowledged specific institutional measures undertaken across primary financial domains during the conf...