The Reserve Bank of India (RBI) may get more powers to direct lenders to take action on stressed assets as the government is open to provide more powers to the central bank, reported The Economic Times quoting finance ministry officials.

However, the finance ministry is of the view that it can strengthen RBI without making changes in the existing laws, the report said.

“It cannot be left to the discretion of banks — there has to be some regulatory supervision, and that should be from the banking sector regulator,” a government official was quoted as saying in the report.

The move is expected to strengthen RBI’s position after the Supreme Court struck down its February 12 circular, earlier this year, the report said, adding that the government wants a more robust framework with the oversight of the central bank.