New Delhi, Aug. 14 -- Finance and Corporate Affairs Minister Nirmala Sitharaman and Reserve Bank of India Governor Sanjay Malhotra co-chaired the BRICS Finance Ministers and Central Bank Governors meeting with discussions focusing on financial stability, cross-border payments and cooperation among central banks.
The RBI said Malhotra underlined the importance of central banks in safeguarding price and financial stability.
He also stressed that greater coordination among monetary authorities would be important for developing a financial system that is more resilient, efficient and inclusive.
During the meeting, the RBI Governor reviewed the progress of various central bank initiatives across key areas. These included information security,...