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Finance Commission to hold meeting with RBI Guv, bank officials on May 8-9

The 15th Finance Commission will meet RBI Governor Shaktikanta Das and representatives of banks and financial institutions during its two-day visit to Mumbai beginning May 8, according to an official statement.

The commission, chaired by N K Singh, will discuss issues concerning macro-economics, financial stability and cost of borrowing of the Centre and states with the RBI.

The other issues that would come up during the deliberation include market driven borrowing cost and debt trajectories of states.

The commission will also discuss the issues concerning recapitalisation of banks, and possible scenarios of the Bimal Jalan committee report on surplus capital available with the RBI for transfer to the government, the statement said.

It will also discuss RBI’s own assessment of the dividends and surpluses that can be transferred to the government.

With the banks and financial institutions, the commission will discuss issues concerning recapitalisation of banks and their impact on the cost of borrowing .

The meeting is slated be attended by officials of State Bank of India, Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Union Bank of India, Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and IDBI Bank.