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India open to cruise RBI’s direct for wider powers to umpire lenders

NEW DELHI (Reuters) – India’s executive supervision is open to deliberation a Reserve Bank of India’s direct for wider powers to umpire lenders, Finance Minister Piyush Goyal pronounced on Tuesday.

Piyush Goyal attends a convention during a second day of a Vibrant Gujarat Summit in Gandhinagar in Gujarat Jan 12, 2015. REUTERS/Amit Dave/Files

Reserve Bank of India arch Urijit Patel pronounced in Mar that a regulator had “very singular authority” over state-run banks and had called for reforms to give a executive bank some-more powers to military such lenders in a arise of a $2 billion fraud.

Reporting by Manoj Kumar; Writing by Sankalp Phartiyal; Editing by Robert Birsel

Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/Dz6j5TJ_ipg/india-open-to-consider-rbis-demand-for-wider-powers-to-regulate-lenders-finance-minister-idINKBN1JF1MF

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