Mumbai, July 30: The Reserve Bank of India (RBI) on July 30, 2019, nominated Economic Affairs Secretary Atanu Chakraborty on the apex bank's central board. "The central government has nominated Atanu Chakraborty, secretary, Department of Economic Affairs, Ministry of Finance, Government of India, New Delhi as a director on the Central Board of Directors of Reserve Bank of India," RBI said in a release. RBI Monetary Policy Report: 'Considerable Uncertainty Around Impact of MSP Schemes'.

In other development, RBI relaxed end-use stipulations under the commercial borrowing for corporate and non-banking financial companies.

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Atanu Chakraborty's nomination is effective from July 29 and until further orders, RBI said. Former economic affairs secretary Garg was shunted to the power ministry in a bureaucratic reshuffle announced by the government last week.

(The above story first appeared on LatestLY on Jul 30, 2019 09:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).