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Support for MSMEs was one among the contentious issues between RBI and the govt leading to the abrupt resignation of previous Governor Urjit Patel last month and the immediate appointment of his successor Shaktikanta Das.
The government, which had last year pushed for EVs, changed its stance opting for a technology-agnostic approach.
The governor said the economy would get a boost from oil prices cooling off from four-year highs and asserted that the fundamentals were "robust".
Four-wheelers or passengers vehicles recorded a steep decline of 14 per cent in the prime time between September 21-November 20 this year.
During the festival season Navratri to Diwali, the Federation of Automobile Dealers Association (FADA) recorded a dismal decline.
The Finance Ministry remained silent on whether it invoked the powers provided under Section 7, which allows the government to issue directions to the RBI in public interest.
Whether it is banks or NBFCs, if they are in infrastructure financing, they have faced trouble in India, SBI chief said.
The searches are being conducted as part of a tax evasion probe against two construction firms linked to the minister and others.
The NBFC has a whopping Rs 91,000 crore in debt and its debt jumped 44% in three years.