On September 18, 2025, the Reserve Bank of India (RBI) held the 35th Conference of State Finance Secretaries in Mumbai. The conference theme was "Journey towards Economic Prosperity through the Path of Fiscal Consolidation." Attendees included the Secretary, Department of Expenditure, Ministry of Finance, Government of India; Finance Secretaries of 28 States and two Union Territories; officials from the Ministry of Finance, Government of India; Controller General of Accounts; and the Comptroller and Auditor General of India. The Governor of the Reserve Bank of India inaugurated the conference, emphasizing fiscal discipline, improved expenditure quality, and prudence in off-budget borrowings. The Governor also highlighted the importance of coordination between states and the RBI for initiatives in currency management, financial inclusion, and the Unified Lending Interface. Discussions covered cash management, state market borrowings, and fiscal consolidation issues. Contact Puneet Pancholy, Chief General Manager, for further information, referencing Press Release: 2025-2026/1125. The Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai 400 001 can be contacted via email at helpdocrbi.org.in or phone at 022 2266 0502. The RBI website is www.rbi.org.in.
Key Entities Referenced
Reserve Bank of India: Central bank holding the 35th Conference of State Finance Secretaries.
State Finance Secretaries: Participants in the 35th Conference, representing 28 States and two Union Territories.
Ministry of Finance: Department of Expenditure represented in the Conference.
Mumbai: Location where the 35th Conference of the State Finance Secretaries was held.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
September 18, 2025
Reserve Bank holds 35th Conference of State Finance Secretaries
The 35th Conference of the State Finance Secretaries was held in Mumbai on
September 18, 2025. The theme of the Conference was ‘Journey towards Economic
Prosperity through the Path of Fiscal Consolidation’ and was attended by Secretary,
Department of Expenditure, Ministry of Finance, Government of India; the Finance
Secretaries of 28 States and two Union Territories; and other officials from the
Ministry of Finance, Government of India; Controller General of Accounts and the
Comptroller and Auditor General of India. Governor, Reserve Bank of India
inaugurated the Conference.
Addressing the participants, the Governor emphasised on the importance of fiscal
discipline for promoting economic growth and prosperity. He also stressed on the
need for the states to focus on improving quality of expenditure and ensuring
prudence in off-budget borrowings. Governor also underscored the importance of
active coordination between the states and the Reserve Bank for effective
implementation of various initiatives being undertaken in the areas of currency
management, financial inclusion, Unified Lending Interface, etc.
The meeting reviewed, inter alia, cash management and market borrowings by
the states and issues relating to fiscal consolidation.
(Puneet Pancholy)
Press Release: 2025-2026/1125 Chief General Manager