Reserve Bank of India holds 36th Conference of State Finance Secretaries

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The Reserve Bank of India held the 36th Conference of State Finance Secretaries in Mumbai on October 27, discussing the role of expenditure quality, cash management and prudent debt management in the fiscal sustainability of states. The governor urged states to connect to the Unified Lending Interface (ULI) and use programmable central bank digital currency (P-CBDC) for direct benefit transfers (DBT). The meeting released the Framework for Cash and Debt Management of State Governments and reviewed issues including market borrowings by states.