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Informist, Tuesday, Oct. 27, 2026

 

MUMBAI – Reserve Bank of India Governor Sanjay Malhotra focussed on the need for states to opt for "prudent borrowing strategies and efficient cash management practices", at the 36th conference of state finance secretaries conducted by the central bank here Tuesday. He emphasised the long-term fiscal health of states and on maintaining the quality of their expenditure, according to an RBI release. Participants of the conference reviewed states' market borrowing, adoption of the Benchmark Issuance Strategy introduced this financial year, and short-term financial accommodation to states from the central bank, the release said.

 

The governor released a "Compendium on Cash and Debt Management for State Governments" at the meeting, a publication on operational debt management practices, the RBI said. The governor also pushed for onboarding states onto the central bank's unified lending interface and maximising use of programmable central bank digital currency for direct benefit transfers. Malhotra emphasised the role of the state-level bankers' committee forum, the RBI said.

 

The theme of the meeting was the "Role of Quality of Expenditure, Effective Cash and Prudent Debt Management in Enhancing States' Fiscal Sustainability". The finance secretaries of 27 states and three Union Territories attended the conference, along with officials from the finance ministry, controller general of accounts and the comptroller and auditor general of India, the RBI said.  End

 

Reported by Cassandra Carvalho

Edited by Shubhayan Bhattacharya

 

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