Rajan calls for empowering public banks' boards
RBI Governor Raghuram Rajan has called for empowering the Public Sector Banks' (PSBs) boards so that they could take major decisions freely without multiple regulatory bodies' oversight. Currently, the Parliament, the Bank Board Bureau, vigilance agencies, and the RBI, among others, monitor the PSBs' performance, he said. Further, he proposed the withdrawal of RBI's nominees from the PSBs' boards.