Govt-RBI tiff has ended badly for 4 governors so far. Will Patel be 5th?

When the British set up the RBI, they said, as part of their divide-and-rule policy, that half the board members would be appointed by the government

Few people know this, but it took the British 22 years to set up the Reserve Bank of India (RBI). The idea came from John Maynard Keynes in 1913.

Soon after, the First World War started in 1914 and the suggestion became an irrelevance. It was revived in 1925 and a Commission under a member of Parliament by the name of Hilton Young was set up in 1926.

The Commission recommended the setting up of the RBI. But immediately a controversy arose as to who would control the RBI.