(PTI)
Finance Minister Piyush Goyal today said the government is open to giving more powers to RBI to deal more effectively with frauds like the ones allegedly committed by diamond jeweller Nirav Modi in PNB. Goyal’s comment comes within days of RBI Governor Urjit Patel reportedly telling a parliamentary standing committee that the central bank lacked enough powers to effectively regulate Public Sector Banks (PSBs).
On RBI’s stand, Goyal said however that those were the views of the Governor about powers of regulation and supervision of the central bank. “We believe that powers are available with the Reserve Bank and that is the conversation that the government and Reserve Bank will have amongst themselves,” Goyal told the media after meeting heads of 13 public sector banks (PSBs) here.
