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RBI board meeting begins with Central Government for the stalement between them.

RBI board meeting begins with Central Government for the stalement between them.

The meeting of the RBI’s board is being held today between the impasse between the Central Government and the Reserve Bank of India (RBI). It is believed that there can be consensus on the important points between the Finance Ministry and the RBI in this meeting. The meeting has started in Mumbai.

The alleged panic between the government and the Reserve Bank is being seen for a long time, among which the Board of Directors is meeting today. Earlier, the government and the bank have been commenting on it. RBI's deputy governor Viral Acharya has said in his comment that governments, who do not respect the independence of their central bank, will have to face the resentment of the financial markets in a hurry or delay. On the other hand, the RBI governor has met Prime Minister Narendra Modi during this whisper.

According to the news, in this meeting, the nominated director of the Finance Ministry and some independent directors, Governor Urjit Patel and his team, MSME can borrow from debt to the funds available with Central Bank.

According to the sources, there is also the possibility of approaching any solutions with the mutual consent of the government and the Reserve Bank of India for the setting up of Instant Corrective Measures (PCA) and easing the provisions for lending to the MSME sector. Apart from this, the issue of special window for NBFC can also be a part of this meeting.

No. of members in  RBI board: There are 18 members in the Reserve Bank's board of directors. However, there is a provision to keep the number of members up to 21.

Among the members, Reserve Bank Governor Urjit Patel and four other deputy governors are full time stalemate directors. Apart from these 13 members are nominated by the government. The members nominated by the government include two officers of the Finance Ministry, Economic Affairs Secretary stalemateand financial services secretary Rajiv Kumar.

Congress leader P. Chidambaram has alleged that the Modi government has intent to capture the reserves of the Reserve Bank to capture it. Chidambaram said, "The central bank anywhere in the world is not a company managed by its board of directors. Suggesting that people of private companies will direct the governor, it is ridiculous.

Reserve Bank have a huge fund of Rs 9.59 lakh crore. There are allegations that the government wants to take a part of this fund. Apart from this, on the other issues, claims of confrontation are being done

Q.1 Name the central Bank of Indian Government?
A. Central Bank of India
B. Reserve Bank of India
C. State bank of India
D. Union Bank of India
Ans: Reserve Bank of India
Q.2 Who is the Union Finance Minister of India during 2018?
A. C. Raghurajan
B. Arun Jaitly
C. Madanmohan
D. Viral Acharya
Ans: Arun Jaitly

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