The New Report on Currency and Finance
The Reserve Bank of India released its new Report on Currency and Finance (RCF) in February this year. This comes nearly a decade after the previous issue. The RCF is a non-statutory report, unlike the Annual Report and Report on Trend and Progress of Banking in India (RTP). The former is published under the Reserve Bank of India Act, 1934. The RTP is published under the Banking Regulation Act, 1949. The 2021 RCF is significant in three ways. It is the centenary of the first consolidated report of the Controller of the Currency, which became the RCF. For the first time, it is a discussion paper on a specific issue. It is also the first issue of RCF with a foreword signed by the Governor, Reserve Bank of India. The RCF has had a chequered history, which is worth recounting. Continue reading “The Report on Currency and Finance”
