Govt vs RBI: Urjit Patel meets PM Narendra Modi amid ongoing tussle

Talks come ahead of the meeting of the RBI's central board on November 19

Reserve Bank of India Governor Urjit Patel met Prime Minister Narendra Modi on Friday to iron out issues on which the government and the central bank are not seeing eye to eye.

Sources said Patel was in New Delhi on Friday, when he met Modi and senior officials in the Prime Minister's Office (PMO).

Some of the government’s demands the Reserve Bank of India (RBI) may accede to include relaxing prompt corrective action (PCA) norms for some banks and a special dispensation for micro, small and medium enterprises.

Top officials of the PMO didn’t respond to text messages from Business Standard.