Govt for more central board members in key RBI panel ahead of Dec 14 meet

The central government will press the Reserve Bank of India (RBI) to restructure its key committees in a way that more central board members are a part the decision-making process of the bank that is set to meet on December 14.

Sources said the government had moved a proposal titled ‘governance in RBI’ at least six months back as it was upset over being kept in the dark on the new norms for resolution of stressed assets set by the central bank in February, popularly known as the February 12 circular.

According to sources, the government has proposed “drastic changes”