RBI has wide ranging powers to deal with various situations facing banks, says government
Updated : July 26, 2018 08:17 AM IST
Also, whole-time directors of nationalised banks and State Bank of India are appointed in consultation with the RBI.
Listing out RBI's powers to deal with banks, Minister of State for Finance Shiv Pratap Shukla said the central bank can inspect the lenders, examine on oath any officer, direct special audit and give directions to banks.
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