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Mumbai, Sep 30 (IANS) The Hold Bank of India (RBI) Financial Arrangement Council (MPC) will meet and fix this letter will continue to engage with the public authority on not meeting the four percent expansion target, national bank Lead representative Shaktikanta Das said on Friday.
Asked about the letter that the national bank will continue to communicate with the public authority, he said the MPC should meet before writing a letter to the public authority.
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In any case, he said it was a favored correspondence between the RBI and the public authority, and the RBI would not disclose the correspondence, he said.
Das also said that there is no legitimate limit on the frequency of correspondence between the RBI and the public authority.
He also said that the expansion rate should drop to four percent within two years, and there are many weaknesses.
RBI has fixed the rate of expansion at 6.7 percent for FY23.