Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Don’t Need Money For 6 Months: Arun Jaitley on Seeking RBI’s Surplus Reserves

"We respect the autonomy (of the RBI) but, at the same time, if some sectors are starved of liquidity or credit, we will flag those issues. We do so with the RBI."

PTI

Updated:November 24, 2018, 1:59 PM IST
facebookTwitterskypewhatsapp
Don’t Need Money For 6 Months: Arun Jaitley on Seeking RBI’s Surplus Reserves
File photo of Finance Minister Arun Jaitley. (PTI Photo)
Loading...

Mumbai: India does not need money from the Reserve Bank of India (RBI) in the next six months, the finance minister said, rejecting opposition charges the government was seeking access to the bank's reserves to fund schemes ahead of the 2019 general election.

"I don't need money in the next six months," Finance Minister Arun Jaitley told a news channel. Critics accuse the government of trying to undermine the central bank's authority, but Jaitley said his government respected the institution's independence.

"We respect the autonomy (of the RBI) but, at the same time, if some sectors are starved of liquidity or credit, we will flag those issues. We do so with the RBI."

The Congress has accused Prime Minister Narendra Modi's government of eyeing the cash reserves held by the RBI. "Government is determined to 'capture' RBI in order to gain control over the reserves," P. Chidambaram, former finance minister and senior Congress leader tweeted last week.

The government has been pushing for access to RBI's surplus reserves prompting the central bank's board to form an expert panel to look into whether its cash pool is adequate.

The board whose members include government nominees, in a meeting last week, advised the RBI to aid small businesses and give bankers more time to step up capital norms to encourage lending and stimulate the economy ahead of next year's election.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results