The Reserve Bank of India and government have reached an agreement that looks set to dispel recent tensions, as both sides offered concessions during a marathon board meeting today (November 19).
The meeting pitted several government-appointed board members who wanted the central bank to do more to support Indian growth and alleviate budget pressures against RBI staff concerned over possible threats to the central bank’s independence.
After nine hours of talks, officials managed to avoid the
- Demonetisation backer becomes new RBI governor
- Kohn ‘deeply’ worried Fed might not have support to fight next crisis
- Central banks turn to visual communication in 2018
- Indian governor resigns after conflict with government
- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner