(LiveMint)
The functioning of the Reserve Bank of India (RBI) is to soon come under greater scrutiny of Parliament. The Standing Committee of Finance is proposing to examine the quality of supervision and oversight of financial institutions, inflation targeting guidelines and monetary transmission, and a performance appraisal of the banking system. All these issues intersect with RBI.
“One of the topics that we will be taking up in the committee, and it reflects widespread consensus among members, is the functioning of the RBI and what we can do to further strengthen the institution,” Jayant Sinha, chairman of the standing committee on finance, said in an interview. “The governor of the RBI reports back to Parliament through the committee. We will shortly be having him come and present to the committee as well. As has been the practice, we will examine a host of issues related to RBI.”
