You are here: Home » Economy & Policy » News
Business Standard

Govt meddling in RBI could undermine India's financial stability: S&P

S&P's lead global sovereign analyst said last week that India's 7% annual growth would be enough to keep the Indian government's investment grade BBB- rating stable

Reuters  |  London 

RBI, RESERVE BANK OF INDIA, CENTRAL BANK

The increasing involvement of the in the affairs of the country's central is a negative for the ratings of giant Asian economy's system, said on Monday.

"Ratings views as credit negative the circumstances leading to the recent resignation of Urjit Patel, of the of (RBI)," S&P analysts and said in a note.

"Sustained and intense external pressure from the risks eroding these (central independence and prudent policy) settings over time, and could also undermine the long-term financial stability in the country."

S&P's said last week that India's 7 per cent annual growth would be enough to keep the Indian government's investment grade BBB- rating stable.

 

First Published: Mon, December 17 2018. 14:00 IST
RECOMMENDED FOR YOU