Centre invokes never-before-used powers to direct RBI governor Urjit Patel: Report

Separate letters have been sent to the Reserve Bank of India (RBI) governor in recent weeks, exercising powers under the section on issues ranging from liquidity for non-banking financial companies, capital requirement for weak banks and lending to small and medium enterprises, the report said.

Centre invokes never-before-used powers to direct RBI governor
The RBI was not immediately available for comment. The finance ministry could not be immediately reached for comment. Image source: Reuters

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