FinComm reveals it will meet the RBI Governor and several bank officials during its Mumbai visit 

Earlier in the week, the RBI released an official statement which revealed that The 15th Finance Commission will meet RBI Governor Shaktikanta Das and representatives of banks and financial institutions during its two-day visit to Mumbai which is set to commence on May 8.

As per reports, issues concerning financial stability, macro-economics, and cost of borrowing of the Centre are set to be discussed by the commission, chaired by N K Singh with the Centre and the states.

Reports also state that issues like debt trajectories of states and market-driven borrowing cost are also expected to be raised during the deliberation.

Additionally, the statement also revealed that possible scenarios of the Bimal Jalan committee report on surplus capital available with the RBI for transfer to the government and issues concerning recapitalization of banks are also scheduled to be brought up by the commission. Furthermore, it will also discuss RBI’s own assessment of the surpluses and dividends that can be transferred to the government.

As per reports, the commission will conduct discussions with the banks and financial institutions regarding issues concerning recapitalization of banks and their impact on the cost of borrowing of the Centre and states.

According to sources close to the matter officials of the following organizations are set to attend the meeting Bank of Baroda, State Bank of India, Bank of Maharastra, Bank of India, Union Bank of India, Central Bank of India, ICICI Bank, Axis Bank, HDFC Bank, Yes Bank, IndusInd Bank, Kotak Mahindra Bank, IDBI Bank and, IDFC First Bank.

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