New Delhi: A lot of questions have been raised about the functioning of the Reserve Bank in the Modi government. After the resignation of some top officials of the Reserve Bank, the opposition got a chance to surround the government on this issue. The opposition has accused the government of ending the autonomy of the RBI. The Reserve Bank is now accused of acting like a puppet of the government. Responding to this attack by opponents, RBI Governor Shaktikanta Das said that RBI is not a 'cheerleader' for anyone.
He said that he questioned those who called the central bank as an organization working at the behest of the government, whether the central bank should give a lecture to the government about the economy or keep saying good and bad. On this issue, Das said that the central bank is more than autonomous institutions. Das said that the RBI talks openly with the government, but when it comes to decision-making, there is no interference from the government.
The head of the Reserve Bank said that due to separation, there are differences between the government and the Monetary Authority in all countries, but it is necessary to resolve the differences through negotiations. He said in a program, "Let me make it clear to you that a lot of issues are discussed between the RBI and the government. But as far as the decision or final decision by RBI is concerned, I want to say with full confidence that RBI is more than autonomous in decision making. Nobody interferes with the decisions I take. Let me tell you that some time ago, the Reserve Bank announced to give large amount to the government. Which was heavily criticized.
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