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Govt to press RBI at Nov 19 meet to ease lending, transfer surplus reserves

RBI Governor Urjit Patel will be a key focus of the pressure from a group of directors who support the government's position, according to the New Delhi-based sources

Reuters  |  New Delhi / Mumbai 

The Indian government intends to keep pressing demands for the country's central bank to relax lending curbs and hand over surplus reserves even if it risks provoking a resignation by the bank's governor, three sources familiar with the government's thinking told Reuters. While there appeared to be a partial truce last week when the government said it respected the autonomy of the Reserve Bank of India (RBI), the sources said the government will turn up the heat at the bank's central board of directors meeting on Nov. 19. And RBI Governor Urjit Patel will ...

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First Published: Tue, November 06 2018. 17:47 IST
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