RBI asks ministry not to micromanage banks

TURF WAR

RBI opposed to ministry move to have independent debt management office RBI was against the FM heading Financial Stability & Development Council but ministry intention prevailed The ministry overruled RBI concern on bank investment in commodity derivatives

The ministry’s diktats Cap share of bulk deposits in total Except six big banks, others must form consortium to lend more than Rs 150 cr Raise EMI tenure, not EMI amount

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