Can govt direct central bank on policy and regulations? Yes, says RBI Act

The Allahabad High Court on Monday asked the central government to hold consultations with the Reserve Bank of India (RBI), under Section 7 of the RBI Act 1934, on the way forward for stressed power assets in the next 15 days. Can the government issue directions to the RBI on regulatory and policy matters? The answer’s yes. However, to date, the government has never issued directions to the RBI on its regulatory and policy affairs. A similar provision is present in most statutes that deal with the regulators, such as the Insurance Regulatory and Development Authority of India and t.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Most Read

Top Stories

Markets

Companies

Opinion

Latest News

Todays Paper

News you can use

Outbrain