India: Not considering any proposal to give more powers to RBI, says govt

• The government is not currently considering any proposal to give more powers to the Reserve Bank of India (RBI) to deal with state-owned banks, said Minister of State for Finance Shiv Pratap Shukla in the Rajya Sabha on 8 Jan 19.
• The powers of the RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, including public sector banks (PSBs), he said in written reply.
• In wake of recent scam in public sector bank, the minister said improvement in regulatory functioning being an ongoing process, the government engages with stakeholders, including the RBI, and discusses issues as they evolve.

External Link: https://economictimes.indiatimes.com/news/economy/policy/not-considering-any-proposal-to-give-more-powers-to-rbi-says-govt/articleshow/67441759.cms?from=mdr