Chidambaram hints at a less intrusive approach on banks

.....Reserve Bank of India (RBI) Governor D. Subbarao had expressed his displeasure over the frequent diktats by the ministry and said the government should influence decisions through bank boards instead. Chidambaram has proposed a less intrusive approach and said all advisories issued by the secretary, department of financial services, will be vetted by the finance minister, according to bankers who attended the meeting. D.K. Mittal, secretary, financial services, did not respond to a call or message left on his mobile phone......

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