Governor Urjit Patel says RBI has 'limited authority' over state-run banks

MUMBAI (Reuters) - The Reserve Bank of India (RBI) chief said on Wednesday the regulator had "very limited authority" to hold state-run banks accountable and called for a leveling of the playing field between public sector and private sector banks.

In a speech at law university in Gujarat, RBI Governor Urjit Patel said "Market discipline mechanism for public sector banks is appreciably weaker compared to that at private banks."

(Reporting by Abhirup Roy; Editing by Euan Rocha)