Ministry of Finance
Autonomy for Central Bank, within the Framework of
the RBI Act, Is an Essential and Accepted Governance Requirement: Says
Government
Posted On:
31 OCT 2018 12:57PM by PIB Delhi
The
autonomy for the Central Bank, within the framework of the RBI Act, is
an essential and accepted governance requirement. Governments in India
have nurtured and respected this. Both the Government and the Central
Bank, in their functioning, have to be guided by public interest and the
requirements of the Indian economy. For the purpose, extensive
consultations on several issues take place between the Government and
the RBI from time to time. This is equally true of all other regulators.
Government of India has never made public the subject matter of those
consultations. Only the final decisions taken are communicated. The
Government, through these consultations, places its assessment on issues
and suggests possible solutions. The Government will continue to do so.
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