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RBI Vs Government: IMF is watching

By IndianMandarins- 02 Nov 2018
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rbi-vs-government:-imf-is-watching

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.

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