Business Standard

Backing Acharya, experts say govt's undue pressure on RBI causing friction

Instead of taking hard steps to reform PSBs, Centre continues to pass the buck and makes unwarranted insinuations, say retired RBI official

Reserve Bank of India | File Photo
Premium

Reserve Bank of India | File Photo

Joydeep GhoshAnup RoyAbhijit Lele New Delhi/Mumbai
Former senior officials of the Reserve Bank of India (RBI) and banking experts are in favour of the hard-hitting speech by RBI Deputy Governor Viral Acharya, accusing the government of undermining the apex bank’s authority.

The main problem, they feel, are the statements by government officials blaming the RBI on critical issues such as slowdown in the economy, fall in the rupee or problems with public sector banks (PSBs). “The government itself is unwilling to take any harsh decision. Only a handful of the recommendations of the P J Nayak Committee have been implemented. Instead, government officials make loose statements

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 30 2018 | 5:25 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com