Bengaluru– The Reserve Bank of India’s (RBI) central board, which met here on Thursday after seven years, discussed macroeconomic developments, budget and setting up of Monetary Policy Committee, an official statement said.

“Besides macroeconomic developments, the board discussed its budget and constitution of the monetary policy committee at the meeting, chaired by (RBI) Governor Raghuram Rajan,” the statement noted.

The board also reviewed its activities for payment and settlement system for the year ended March 2016 and discussed the draft annual report for last fiscal 2015-16.

The central bank’s Deputy Governors Urjit R. Patel, R. Gandhi, S.S. Mundra and N.S. Vishwanathan were present at the meeting along with Directors Nachiket M. Mor, Damodar Acharya, Natarajan Chandrasekaran, Bharat N. Doshi and Sudhir Mankad.

“Government nominee director on the board and Economic Affairs Secretary Shaktikanta Das also attended the meeting,” the statement added.