BUSINESS
14/12/2018 9:55 AM IST | Updated 14/12/2018 9:57 AM IST

RBI Board Meeting Today, First Since Shaktikanta Das' Appointment As Governor

Governance issues will top the agenda of the meeting, notably a push by the goernment to have a bigger say in the central bank’s regulatory decision.

ASSOCIATED PRESS
RBI Governor Shaktikanta Ds

The RBI will hold a board meeting on Friday, the first since Shaktikanta Das was appointed Governor following the abrupt resignation of Urjit Patel.

Governance issues will top the agenda of the meeting, notably a push by Prime Minister Narendra Modi’s administration to have a bigger say in the central bank’s regulatory decisions, Reuters reported.

The government is anxious to find ways of boosting the economy prior to national elections due by next May.

Das was appointed on Tuesday in place of Urjit Patel, who resigned abruptly the previous day after clashing with the government, which has pressured the bank to ease lending curbs and hand over part of its reserves to help fund India’s fiscal deficit.

Das, a seasoned bureaucrat who worked under two successive finance ministers from opposing political parties, said the banking sector would be his key focus and more measures were needed to revive lenders.

(With inputs from Reuters)