States must undertake prudent borrowing technique: RBI governor Shaktikanta Das

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RBI governor Shaktikanta Das on Thursday emphasised on the necessity for states to undertake prudent borrowing technique and environment friendly money administration practices, preserving in view the evolving macroeconomic eventualities.

Inaugurating the thirty second Convention of the State Finance Secretaries (SFS) in Mumbai, he harassed that the states ought to concentrate on enhancing high quality of expenditures, higher dealing with and monitoring of contingent liabilities and enhancing the governance within the cooperative banks.

The Convention was attended by the officers from the ministry of finance, Authorities of India, Controller Basic of Accounts, Comptroller and Auditor Basic of India and the finance secretaries of 24 states and one Union Territory.

The governor highlighted the significance of the SFS Convention as an efficient platform to deliberate on, and discover out efficient methods to deal with varied points regarding states’ debt and money administration.

The assembly reviewed, inter alia, market borrowings by the states and administration of the Consolidated Sinking Fund / Assure Redemption Fund. The opposite points mentioned within the assembly included high quality of expenditure by the states, position of states in inflation management, debt administration methods of the states, the necessity for capability constructing programmes for debt and money administration, and varied operational issues.

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