The Reserve Bank of India’s Central Board of Directors on Friday reviewed the global and domestic economic situation and outlook.

The Board, at its meeting held in Nagpur under the Chairmanship of Governor Shaktikanta Das, took stock of the challenges posed by geopolitical developments and global financial market volatility, the central bank said in a statement.

Further, the Board also discussed the Reserve Bank’s activities including the progress made in digital payments, consumer education and awareness during the current accounting year 2023-24.

The Board also approved the Bank’s budget for the accounting year 2024-25.