RBI has enough powers to supervise banking sector: Ex-Guv
Former RBI Governor C Rangarajan has said the central bank has enough supervisory powers but has to consult with the government before taking action on a public sector bank. Rangarajan's statement comes after Governor Urjit Patel said the RBI has limited legal authority over state-run banks. RBI cannot remove directors or replace non-performing senior management of such banks, Patel said.