The governor’s comments are significant as the issue of the level of reserves to be maintained was one of the major flashpoints in a bitter battle between the RBI and the government. The RBI has contended that a large part of the reserves — estimated at around Rs 9.7 lakh crore or around 28% of its assets — are notional and should not be disturbed.
from Times of India https://ift.tt/2zsDsAF
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