The Reserve Bank of India's (RBI) board meeting on November 19 is expected to be a stormy affair in the backdrop of the ongoing tussle between the government and the central bank. Some members are likely to raise issues concerning capital framework, management of surplus and non-performing assets (NPA) norms for Micro, Small and Medium Enterprises.

It is also likely to discuss Basel III norms and prompt corrective action (PCA) framework.

Tensions between the RBI and the government have recently escalated, with the finance ministry initiating discussion under the never-used-before Section 7 of the RBI Act which empowers the government to issue directions to the RBI Governor.

With inputs from PTI.

First Published:Nov 12, 2018 8:22 PM IST