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The Reserve Bank of India Governor Raghuram Rajan said on Saturday that economy was recovering even as latest IIP number was disappointing.
Rajan said that consolidation is desirable, but it is not going to happen overnight.
The newly set up Bank Board Bureau, Special committee and others would have to evaluate and recommend suitable structures.
The process of identifying the candidates is going to start, he said.
Rajan also expressed happiness with the monetary policy committee announced in this year's budget. Describing this Budget announcement as a "reasonable" step, Rajan said that India's monetary policy would be benefitted from this move.
Rajan was speaking at a press conference after the customary post budget interaction that Finance Minister Arun Jaitley had with members of the Central Board of RBI in the capital.
Speaking at the press conference, Jaitley said that he had during today's interaction received several suggestions including extension of direct benefit transfers (DBT) Aadhaar platform for payment of interest subvention etc.
RBI Board members also expressed concern about the state of exports and the declining trend in the recent months.
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