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Showing posts from December 15, 2018

RBI board reviews economy and liquidity, to hold talks on governance

Reserve Bank of India (RBI) Governor Shaktikanta Das chaired his first board meeting on Friday, discussing issues ranging from governance at the central bank to liquidity in the financial system. The board did not arrive at any decision but held extensive discussions on the governance structure in the RBI and the liquidity situation of non-banking financial companies (NBFCs) — two key areas of concern flagged by the finance ministry recently, sources said. “Good meeting of the RBI central board. Wide-ranging issues discussed,” Das tweeted. On the governance framework, the board decided it would require further examination, according to the RBI’s statement. There was no discussion on the prompt corrective action (PCA) framework, which the government had asked the RBI to consider revising and bring some public sector banks (PSBs) out of it, sources said. The Board for Financial Supervision, led by the RBI governor, is expected to review the PCA framework in its next meeting. At present, …