Reserve Bank of India has wide ranging powers to deal with various situations banks face, says government
RBI Governor Urjit Patel in his presentation before the Parliamentary Standing Committee on Finance had last week pitched for more powers saying that the central bank has 'inadequate' control over state-owned lenders.
New Delhi: The Reserve Bank has "wide-ranging and comprehensive" powers to address various situations in banks, the government said on Tuesday against the backdrop of RBI Governor seeking a greater say in dealing with bad loans of public sector banks (PSBs).
Listing out RBI's powers to deal with banks, Minister of State for Finance Shiv Pratap Shukla said the central bank can inspect the lenders, examine on oath any officer, direct special audit and give directions to banks.
Also, whole-time directors of nationalised banks and State Bank of India are appointed in consultation with the RBI, he said in a written reply in the Rajya Sabha.
"...the powers of RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, including public sector banks," he said.
RBI Governor Urjit Patel in his presentation before the Parliamentary Standing Committee on Finance had last week pitched for more powers saying that the central bank has "inadequate" control over state-owned lenders.
Replying to another question on whether less money was being put in ATMs after the demonetisation, Shukla replied in negative.
RBI has informed that the total amount of Notes in Circulation (NIC) as on 18 July, 2018 was Rs 19.28 lakh crore as compared to Rs 17.74 lakh crore as on November 4, 2016, he said.
"RBI has ensured adequate supply of notes to meet the cash requirement of public and the currency supply is monitored continuously to ensure distribution of adequate currency to various parts of the country," he said.
The government, he added, has requested all banks to efficiently manage the cash to ensure that adequate cash is available for ATMs and people do not face any problems.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
RBI Assistant 2019 Main Examination to be held on 22 November; for exam centre change, other details check rbi.org.in
The recruitment drive is carried out to fill 926 vacancies of Assistants in various offices of the RBI. Candidates who qualify the Mains examination will be called for a Language Proficiency Test
SBI clerk prelims result 2020 | SBI had conducted the preliminary examination on 22 and 29 February 1 and 8 March earlier this year
SBI SO Recruitment 2020: Online registration to fill 92 vacancies ends today, candidates can apply at sbi.co.in
The positions for which applications have been sought include manager, deputy manager, data trainer, data translator, senior consultant analyst, assistant general manager, data protection officer and risk specialist