 "RBI Governor Urjit Patel attends the customary post monetary policy review press conference, in Mumbai on Wednesday, June 06, 2018.")
During Urjit Patel’s tenure as governor, the Reserve Bank of India had run-ins with the government on a number of issues. Here are some of the instances:
Financial Resolution and Deposit Insurance Bill 2017
Govt: Proposed a resolution corporation for financial firms in distress
RBI: Opposed various provisions, including the role of the corporation to avoid conflicts of jurisdiction
Economic capital framework
Govt: Review rules to allow RBI to part with more surplus funds to the government
RBI: Need a strong balance sheet to perform critical functions
Chairperson of Economic capital framework
Govt: Batted for former RBI governor Bimal Jalan
RBI: Wanted
