New Delhi: Finance Minister Piyush Goyal on Tuesday said the government is open to giving more powers to RBI to deal more effectively with frauds like the ones allegedly committed by diamond jeweller Nirav Modi in PNB.
Goyal's comment comes within days of RBI Governor Urjit Patel reportedly telling a parliamentary standing committee that the central bank lacked enough powers to regulate Public Sector Banks (PSBs) effectively.
On RBI's stand, Goyal said however that those were the views of the Governor about powers of regulation and supervision of the central bank.
"We believe that powers are available with the Reserve Bank and that is the conversation that the government and Reserve Bank will have amongst themselves," Goyal told the media after meeting heads of 13 public sector banks (PSBs) here.
"If there are any more additional powers required, the government is open to that," he said.
The minister added however that he does not "believe there is any shortage of powers, but we will have a discussion with RBI and sort them out".