Mumbai: Reserve Bank of India did not discuss about easing curbs despite the pressure from the government.
Reserve Bank of India or RBI sub committee delayed easing lending curbs facing 11 PSU banks. In addition, Indian central bank did not give importance to the pressure from the Indian government.
According to sources, the national bank’s Board for Financial supervision (BFS) just talked about the banks’ September quarter results and did not address the supposed provoke remedial activity (PCA) plan that they presently need to work under.
On the other side, the plan which limits their lending has been forced lately after the 11 banks experienced a rise in awful credits, capital consumption and losses.
The BFS is sitting tight for a plan from RBI authorities before it can submit suggestions to the national bank’s board, which will settle on ventures to facilitate any of the curbs confronting banks. According to sources, RBI did not demonstrate any date so far to finish and present the plan.
The plan will incorporate estimates that the 11 banks, the administration and the RBI should need to make their revival.
The non presence of momentum is just prone to add to pressures between the administration of Prime Minister Narendra Modi and the RBI at the following executive board meeting.