Rajan: RBI ‘could give up’ some powers
There is "no reason" for the Reserve Bank of India (RBI) to stand in the way of the government if it wants to manage its own debt, according to governor Raghuram Rajan, but the central bank should retain its regulatory powers.
Rajan said there were "places where the RBI could give up powers" at an event in Mumbai today, and pointed to public debt management as a possible candidate.
The RBI is currently responsible for deciding where the state borrows money from, and at what terms, as well as
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