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Urjit Patel admits RBI was slow to take timely measures

Updated : July 04, 2019 03:10 PM IST

In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
Patel said social sector requirements and an inability to access capital markets have resulted in the government's stake in many lenders going up as more infusions came from the government despite fiscal constraints.
Urjit Patel admits RBI was slow to take timely measures

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