Bhutan Central Bank Governor visits BoM

Governor of Royal Monetary Authority of Bhutan H.E. Daw Tenzin visited the Bank of Maharashtra (BoM) head office in Pune on Friday. M G Sanghvi,executive director,BoM,received him at Lokmangal,the bank’s headquarters in Shivajinagar.

Addressing the senior management of the bank,Tenzin expressed happiness over the Indian economy’s growth,on which Bhutan’s economy is also fully dependent. He pointed out the Indian Rupee only used in Bhutan also for more than 80 percent of its monetary transactions. He acknowledged the Indian banking system had shown its resilience in the recent economic slowdown. India has the potential to grow further as it has huge human capital and the younger generation constitutes most of it.

“In terms of fundamentals,Indian banks are strong and Bhutan is able to make its domestic payment systems more efficient with the help of RBI,” the Governor said,maintaining the growth while containing the inflation is the present challenge to any economy and RBI has been ably doing so. He desired that as India is contributing to world economy,though as a large importer,a day should come for the Rupee to earn its place in global economic system.

Tenzin later visited the bank’s Rural Development Centre in Hadapsar and Mahabank Self Employment Training Institute ,Hadapsar and interacted with its staff.