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National News

Oct 31, 2018
2:24PM

Autonomy for Central Bank, within the Framework of the RBI Act, Is an Essential and Accepted Governance Requirement: Says Government

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The government today said the autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement and governments in the past have nurtured and respected this. 

A Finance Ministry release said 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, which is equally true of all other regulators. 

Stating that the Centre has never made public the subject matter of the consultations, the release said only the final decisions are communicated. 


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