With a war simmering between the government and the Reserve Bank of India (RBI) over certain policy issues, the focus is now on the sway the government’s ‘men’ in the RBI have on the eventual outcomes.
Among the things the government wants done by the RBI are doing away with the requirement on exposure limit of 20 per cent of foreign portfolio investments in corporate bonds of a single corporate group; removing the requirements of mandatory hedging for infrastructure loans of less than 10 years’ maturity; setting up a special refinance window for non-banking ...
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