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Full text: Idea of transferring RBI capital directly to PSU banks constitutionally improper and incongruous, says former governor YV Reddy

Updated : February 08, 2019 09:21 PM IST

Transferring the Reserve Bank of India (RBI) capital directly to public sector (PSU) banks is constitutionally improper and incongruous, said former governor YV Reddy.
Delivering the Kale Memorial Lecture 2018 at Gokhale Institute of Politics and Economics in Pune, Reddy said according to law, RBI board will decide the excess reserves in its balance sheet, but government's judgement prevails on the adequacy issues.
Full text: Idea of transferring RBI capital directly to PSU banks constitutionally improper and incongruous, says former governor YV Reddy
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