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PNB fraud: Urjit Patel defends Reserve Bank of India

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PNB fraud: Urjit Patel defends Reserve Bank of India

Mar 14, 2018 5:13 AM

Reserve Bank of India (RBI) Governor Urjit Patel has broken his silence over the Punjab National Bank (PNB) fraud in a speech delivered at the National Law University, Gandhinagar. Patel defended RBI and said that it's simply infeasible for a banking regulator to be in every nook and corner of banking activity.

He went on to add that RBI's regulatory powers over public sector banks are weaker than those over the private sector banks.

Watch accompanying video of CNBC-TV18's Ritu Singh for more details

First Published:Mar 14, 2018 1:13 PM IST

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