The International Monetary Fund has called on the Indian authorities to give the central bank full powers to oversee the country’s troubled public-sector banks (PSBs), echoing a similar call from governor Urjit Patel earlier this year.
IMF staff urged authorities to “provide the RBI full regulatory and supervisory powers over PSBs”, to make the powers “ownership-neutral”.
Currently, the central bank has greater powers to intervene in private banks than it does in public banks, which appears to
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