India’s central bank concludes day-long board meeting

MUMBAI (Reuters) – India’s central bank concluded a critical day-long board meeting, said a source familiar with the situation. It wasn’t immediately clear whether it had come to any conclusions in a dispute with the government over easing liquidity for the financial sector and increasing credit to small businesses.

The government has been pressing the RBI to reduce capital ratios for banks, which would speed up loans to small businesses in remote parts of the country, a crucial vote bank for Prime Minister Narendra Modi. There are five key state elections in the next few weeks and a general election due by May.

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