A decision in this regard too was taken at the Board meeting held in Mumbai yesterday
In a nine-hour meeting at the RBI headquarters, the central bank's board decided to constitute an expert committee to examine the economic capital framework (ECF) of the central bank
Amid growing tension between the government and the central bank, the RBI board met Monday and discussed issues to boost funding to MSMEs and ease capital pressure on banks
The Reserve Bank of India will form a panel to consider the funds transfer to the government
Rumours are rife that RBI governor Urjit Patel may step down. Track updates on the crucial RBI board meeting
A crucial meeting of the RBI's central board was held on Monday amid a rift between the central bank and the government over key issues
The Board decided to constitute an expert committee to examine ECF
Gurumurthy and other government nominees have been vocal about bank supervision, flow of credit to industry and easier financial conditions for India to overcome a crisis in its shadow banking sector
It will also send a bad signal to global markets just as Raghuram Rajan's exit did, said Veerappa Moily
The government can still have its way with the RBI by invoking a rule that hasn't been used in the central bank's 83-year history
The Reserve Bank of India and the government are expected to resolve at least two issues at the central bank's board meeting: prompt corrective action (PCA) and a special refinance window for non-bank
The central bank's board is scheduled to meet on Monday
One source said the RBI could agree to tweak restrictions on lending to improve credit flows for smaller companies with a borrowing limit of Rs 250 million
Businesses tend to oppose FIT, linking higher rates to a lower investment appetite which may be a disingenuous claim
This issue may come up for discussion in the upcoming board meeting on November 19
The entire board is appointed by the government under the RBI Act
DEA Subhash Garg says discussions are on only over capital framework
There is need for tactical give-and-take: The board should advise in favour of more liquidity in the system, and set up a committee to decide if RBI has surplus reserves to hand over, writes T N Ninan
Chidambaram also hit out at the government over its claim to "fix appropriate economic capital framework of RBI"
Last year, the RBI parted with Rs 100 billion ($1.38 billion) more as an interim dividend