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Urjit Patel to stay, RBI and govt get close to resolve differences: Report

The uneasy truce is likely to see the RBI ease up on some lending restrictions to help the government stimulate the economy

Reuters  |  Mumbai / New Delhi 

Government and Reserve Bank of India (RBI) are getting close to ironing out some of their policy differences, said two sources familiar with the discussions, as they seek to defuse worsening tensions that had threatened to unnerve investors. While the rift is far from healed, the sources said enough progress had been made to avoid acrimony at a board meeting of the RBI next Monday. The threat that RBI Governor Urjit Patel would quit, as reported by some Indian newspapers last week, is also thought to be off the table for now, they said. The uneasy truce is likely to see ...

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First Published: Wed, November 14 2018. 22:44 IST