RBI groups call for amendment to RBI Act

The Reserve Bank of India's working group have suggested amendments to the RBI Act (1934). The group suggested flotation of interest-bearing deposits as an option, whereby the central bank pays interest on deposits parked by commercial banks on a voluntary basis.

Source: The Financial Express

The Reserve Bank of India's (RBI) working group on instruments of sterilisation has come up with its suggestions, part of which requires amendment to the RBI Act (1934). The group has proposed introduction