S C Garg

RBI board concludes nine-hour long meet amid differences with govt; central bank issues 175-word statement

The government has been pressing the RBI to reduce capital ratios for banks, which would speed up loans to small businesses in remote parts of the country

RBI Board meet: Govt wants to capture central bank to gain control of its Rs 9 lakh cr reserves, says P Chidambaram

In a series of tweets, the former finance minister also claimed that the government and the Reserve Bank of India (RBI) was heading towards a “confrontation” in the Monday's board meeting of the bank.

Surplus, liquidity issues likely to rock RBI board meeting on 19 November, says report

Any change in the central bank's economic capital framework can be carried out only after making amendments to the RBI Act, 1934.

RBI vs govt: The 18 'wise men' tasked with supervision of Mint Street watched for next course of action

The entire board is appointed by the government under the RBI Act, which mandates the central board with "general superintendence and direction of the Reserve Bank's affairs".

P Chidambaram accuses govt of fudging fiscal deficit figures for 2013-14; questions 'competence'

In a series of tweets, Chidambaram said that the fiscal deficit in 2013-14 was 4.4 percent according to official data and not 5.1 percent as Garg mentioned on Friday.

Will govt invoke Section 7 of RBI Act? All you need to know about this never-before-invoked Act

Section 7 empowers the central government to give directions to the RBI, after consultation with the Governor of the central bank, as it may consider necessary in the public interest.

Reserve Bank of India board discusses NPA crisis, liquidity crunch faced by NBFCs post-IL&FS crisis

Reserve Bank of India meeting assumes importance as it comes within a week of the central bank openly dissenting with the government on the question of a separate regulator for payments system.

Govt cuts market borrowing target by Rs 70,000 cr for current fiscal; will contain fiscal deficit at 3.3%

The government had budgeted a gross borrowing programme of Rs 6.05 lakh crore, which now stands reduced by Rs 70,000 crore.