..........The IMF also is concerned with the multiple roles of RBI which create the potential for conflicting goals. “RBI officers are nominated as directors on the boards of public sector banks while, at the same time, RBI serves as the prudential supervisor of these banks. It would be preferable for the government to focus on policies that ensure the appointment of well qualified, independent board members that are not from the RBI. And while there may be some synergies, RBI’s role as monetary authority, bank regulator, and government debt manager may have led it to require banks to hold larger holdings of government debt than might be needed on prudential grounds.”.............
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