The industry representatives, including several CEOs, heard from the Governor the challenges the Reserve Bank of India (RBI) faces in taming inflation while promoting the growth, all in the midst of factors beyond the institution's control.
The USIBC said the members supported RBI's financial sector reforms, including actions to further deepen India's debt capital markets toward long-term infrastructure development and manage risk.
"USIBC also discussed with Governor Rajan the importance of a vibrant payments industry with competition and dialogue spurring further innovations in mobile banking, prepaid, and cash transfer remittances for SME businesses and individuals,' the release said. The USIBC members welcomed the Governor's insight on opportunities for meaningful US-India collaboration in the financial sector, said the media report.
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