Acharya makes pointed defence of RBI’s independence

rbi-tower
The RBI tower in Mumbai

Viral Acharya delivered a thinly veiled rebuke to the Indian government on October 26 as he gave a speech stressing the dangers of tampering with central bank independence.

The Reserve Bank of India’s deputy governor highlighted the general case for central bank independence before warning of “pockets of persistent weakness” in the RBI’s own autonomy from government.

Key areas in which the RBI feels its position is under threat include its ability to manage its balance sheet, its freedom to

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