The IMF has said it was
monitoring the reported rift between the RBI and the Centre in India, and
expressed its opposition to any move that compromises the independence of
central banks anywhere in the world. There were reports of mounting tension
between MoF and RBI over the autonomy of monetary policy makers after Finance
Minister Arun Jaitley on Tuesday criticised RBI for failing to check
indiscriminate lending during 2008 and 2014 that has led to the present bad
loan or Non-Performing Asset (NPA) crisis in the banking industry.
The IMF has said it was
monitoring the reported rift between the RBI and the Centre in India, and
expressed its opposition to any move that compromises the independence of
central banks anywhere in the world. There were reports of mounting tension
between MoF and RBI over the autonomy of monetary policy makers after Finance
Minister Arun Jaitley on Tuesday criticised RBI for failing to check
indiscriminate lending during 2008 and 2014 that has led to the present bad
loan or Non-Performing Asset (NPA) crisis in the banking industry.