Wednesday, 31 October 2018

RBI & Govt: Autonomy of RBI within the framework of RBI Act is essential, says Centre

New Delhi: The Centre on Wednesday issued a statement on the rift between RBI & Govt, says, the autonomy of Reserve Bank of India (RBI) within the framework of RBI Act is essential. Extensive consultations on many issues take place between RBI and Govt frequently.

The Government in this regard said that it has never made public the matters of RBI and the government consultations. It further said that extensive consultations are taking place between the government and RBI frequently.

It said that it will continue to place assessments, suggest solutions post consultations with RBI.

Autonomy of RBI within the RBI framework is essential

The Centre has reportedly sent letters to RBI governor Urjit Patel in the recent weeks, exercising its powers under this section, on various issues like liquidity crunch in the NBFC sectors, capital requirement for banks and lending to small and medium enterprises.

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