RBI vs Centre: Governor Urjit Patel meets Narendra Modi to discuss differences, resolve issues; media dubs it 'peace talks'

Amid the increasing rift between the Bharatiya Janata Party-led Centre and the Reserve Bank of India, governor of the central bank Urjit Patel is believed to have met with Prime Minister Narendra Modi last Friday. Patel’s meeting with the Prime Minister came days before the RBI’s crucial board meeting on 19 November during which contentious issues are likely to come up for discussion, CNBC-TV18 said. The government may soften its stance on seeking RBI’s capital, said the sources, adding that it won’t ask for a special window for non-banking finance companies to ease liquidity situation. RBI may pull out of Prompt Corrective Action straitjacket some banks whose NPAs have been falling; Also some sops for SMEs — Latha Venkatesh November 12, 2018 Patel’s meeting with the Prime Minister came days before the RBI’s board meeting on 19 November during which contentious issues are likely to come up for discussion.