Is the RBI doomed to fail its ‘quest for financial stability’?

Covid-19 has set back progress on hard-won reforms

Two years ago, the Reserve Bank of India (RBI) was in crisis. On December 11, 2018, governor Urjit Patel resigned, unable to reconcile his differences with the government over a series of financial-sector reforms. Relations had deteriorated to the point that the government was threatening to directly intervene in the running of the central bank.

Since then, tensions have undoubtedly simmered down under the governorship of Shaktikanta Das, a career civil servant. And despite Patel and his

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.