Hyderabad: RBI Governor Sanjay Malhotra paid a courtesy visit to Telangana Chief Minister A Revanth Reddy at his residence in Jubilee Hills.
The RBI Governor came to Hyderabad to attend a board meeting. Therefore, he met the Chief Minister at the official residence. During the meeting, Revanth Reddy briefed him on reforms implemented by the state government.
The Chief Minister explained the power sector reforms taken up by the government. He also referred to the proposed third DISCOM. Moreover, he outlined steps to increase solar power usage across the state.
Revanth Reddy also explained the state’s financial policies. Meanwhile, the RBI Governor reviewed the reforms being implemented in various departments.
RBI Governor meeting focuses on reforms and financial laws
Sanjay Malhotra appreciated the financial policies followed by the Telangana government. Therefore, he expressed hope that the state would move forward with more reforms and clear plans.
During the RBI Governor meeting, Malhotra requested the state to notify the BUDS Act. He explained the need to ban unregulated deposit schemes in Telangana.
He also briefed the Chief Minister on the RBI’s initiatives on the Unified Lending Interface. In addition, he spoke about claim campaigns related to government and private deposits.
Chief Secretary Ramakrishna Rao and other senior officials attended the meeting. The discussions focused on coordination between the state government and the RBI.