India’s central bank has yet to decide on whether to pay an interim dividend to the federal government, Governor Das said.
A parliamentary approval to spend an additional Rs 410 billion has been sought.
Punjab National Bank’s 32.8 percent stake was valued at about Rs 5,300 crore ($745 million) as of close of trade on Monday.
Das was appointed for a three-year tenure, making him the 25th governor of the 83-year-old institution.
India Considers Merging Two State-Owned Power Lenders
India’s government has proposed changing rules that will enable closer supervision of the central bank.
RBI to also review rules on capital, risk weight for Indian banks which are considered more stringent than the Basel guidelines.
The government’s demand is expected to further fuel tensions with the RBI.
India Seeks $2 Billion From Stake Sale in Largest Coal Miner
Oil & Natural Gas Corp., NMDC Ltd., Indian Oil Corp. are among companies that have been asked to repurchase shares
PM Modi’s administration is planning to increase tariff on items including furniture, chemicals and mobile phone components.
Government is considering tapping Indians living overseas to lure foreign exchange flows and prop up a sagging rupee.
India lowered retail fuel prices, offering relief to consumers hurt by surging crude oil prices.
Small Industries Development Bank of India has filed an insolvency plea against IL&FS
Merger will help government to rein in fiscal deficit amid growing risks of slippage, people with knowledge of the matter said.
The measures will probably include steps to curb the decline in the rupee and oil prices, a government official told reporters.
The finance ministry and RBI are in touch and the central bank is intervening in the currency market when needed, sources said.
Rising crude prices coupled with the depreciation of the rupee is straining the government’s subsidy budget.
Government-controlled lenders are estimated to hold 90 percent of non-performing loans.
India may halve its imports from Iran to secure a waiver from the U.S. to continue with shipments.
Talks are at an initial stage and the NTPC-NHPC deal is unlikely to be concluded this fiscal year.