INSUBCONTINENT EXCLUSIVE:
New Delhi: The government on Monday sought to calm the recent hostility with the Reserve Bank of India and reiterates differences with the
central bank had been there before and governor Urjit Patel would not be pushed out
While the government is pushing the regulator to address its concerns related to liquidity, credit flow and the prompt corrective action
framework governing weak banks, it does not want a fresh crisis at the Urjit Patel-led RBI
On Saturday, TOI had highlighted the past power struggle between the government and RBI governors, starting with Osborne Smith, the first
governor of the central bank, who had put in his papers in 1937
proposal on increasing the stamp duty, which the RBI argued would effectively raise interest rates
Monetary policies must necessarily depend upon larger policies which a government pursues
It is in the ambit of those larger policies that the RBI can advise
