June 19, 2018 / 12:21 PM / a month ago

India open to consider cbank's demand for wider powers to regulate lenders - finmin

NEW DELHI, June 19 (Reuters) - India’s federal government is open to considering the central bank’s demand for wider powers to regulate lenders, Finance Minister Piyush Goyal said on Tuesday.

Reserve Bank of India chief Urijit Patel said in March that the regulator had “very limited authority” over state-run banks and had called for reforms to give the central bank more powers to police such lenders in the wake of a $2 billion fraud. (Reporting by Manoj Kumar Writing by Sankalp Phartiyal Editing by Robert Birsel)

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