In RBI’s spat with New Delhi, reform is the victim says Jagmohan Garg

The government should never have summoned the RBI’s decision-makers, because it looked like interference noted by Jagmohan Garg News.

jagmohan garg rbi

During the Reserve Bank of India’s press conference last week, one exchange stood out. Asked about a meeting scheduled by the federal Ministry of Finance in New Delhi to discuss the RBI’s policy, the governor of India’s central bank, Urjit Patel, replied: “The meeting did not take place. All the MPC members declined the request of the finance ministry for that meeting.”

The MPC is the Monetary Policy Committee, a six-member council that sets India’s benchmark interest rates. It’s ..

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