The Reserve Bank of India
on Monday deferred the monetary policy committee meeting, scheduled to start on September 29. While the central bank did not give a specific reason, it is possibly because of the delay in the appointment of three external members. Meanwhile, the central bank allowed the Lakshmi Vilas Bank
to be run by a three-member committee of directors alongside the bank’s senior management after its shareholders
refused to allow seven Board members and the CEO to continue in their positions.