RBI governor Urjit Patel said, “The Reserve Bank of India (RBI) will have more powers to monitor public sector banks (PSBs). Information on Urjith who was present before the Parliamentary Standing Committee (Finance) Fraudulent Drivers, Fraud Scams, Cash Crisis and Other Issues Urjith has given assurances to members that it is taking many steps to strengthen the system. Urjith told them that the existing powers are not enough to control PSBs. The sources said that they wanted more powers to control the PSB more efficiently. Especially managing director and CEOs of public sector banks; He also said that the PSB boards should have the power to impose conditions on general directors. However, committee member Nishikant Dubey said that the RBI does not feel the need for additional powers. CEO and chairman from MD position, he said, strengthening the board’s independence by dividing the position.
Urjith said at a meeting of the committee not to have the RBI nominee in the PSB boards. “RBI Nominee directors should be avoided from the management committee to take credit decisions. RBI Nominee should not be in the boards of the original PSBs, “the sources said.