Economic Affairs Secretary Subhash Chandra Garg on Wednesday said the government will seek interim dividend from the Reserve Bank of India (RBI).
He also said that the expert committee on Economic Capital Framework has virtually been finalised. "Hopefully soon, it will be announced," he said on the sidelines of an event in New Delhi.
ALSO READ: Decision on excess reserves should rest with RBI alone: Kaushik Basu
On a question on whether the government will make an additional capital infusion in public sector banks, Garg said, "Yes... wait for supplementary demand for grants expected tomorrow."
The Finance Ministry is likely to seek approval from Parliament for additional funding for state-run banks on Thursday, said Garg, adding that the proposal will be part of the overall supplementary demand for grants to be laid before Parliament.
ALSO READ: RBI officers unhappy with new promotion policy, seek return to old system
Over the past two months the government and the RBI have been clashing on several issues, including the government's proposal to ease capital and lending curbs for state-run banks.
The new RBI Governor Shaktikanta Das' bureaucratic links are expected to heal a rift between the two.
He also said that the expert committee on Economic Capital Framework has virtually been finalised. "Hopefully soon, it will be announced," he said on the sidelines of an event in New Delhi.
ALSO READ: Decision on excess reserves should rest with RBI alone: Kaushik Basu
On a question on whether the government will make an additional capital infusion in public sector banks, Garg said, "Yes... wait for supplementary demand for grants expected tomorrow."
The Finance Ministry is likely to seek approval from Parliament for additional funding for state-run banks on Thursday, said Garg, adding that the proposal will be part of the overall supplementary demand for grants to be laid before Parliament.
ALSO READ: RBI officers unhappy with new promotion policy, seek return to old system
Over the past two months the government and the RBI have been clashing on several issues, including the government's proposal to ease capital and lending curbs for state-run banks.
The new RBI Governor Shaktikanta Das' bureaucratic links are expected to heal a rift between the two.
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