<B>Letters:</B> RBI not independent

Reddy must remember that the RBI has autonomy and not independence

With reference to “I would have resigned if overruled on demonetisation: Reddy” (January 14), the statement of former Reserve Bank of India (RBI) Governor Y V Reddy on the autonomy of the central bank cannot be supported when subjected to logical scrutiny. Talking vaguely and even emotionally (“I would have admitted myself in hospital”) does not match the RBI’s powers. He says “currency is our domain”. Next he says he would have told the government that demonetisation was its call and “the RBI has to implement”. That is exactly what the government has done by deciding to resort to demonetisation