 "RBI Governor Urjit Patel (second from left) with Deputy Governor Viral V Acharya, Executive Director M D Patra, Deputy Governors S S Mundra, B P Kanungo and N S Vishwanathan at the central bank’s bi-monthly monetary policy review in Mumbai")
The finance ministry’s idea of face-to-face meetings with all six members of the Reserve Bank of India’s Monetary Policy Committee (MPC) ahead of interest rate announcements, seems dead upon arrival.
North Block and Mint Road seem likely to now stick to the earlier convention of the RBI governor coming to Delhi and being the only MPC member meeting the finance minister and senior bureaucrats ahead of MPC meets. For the others, the ministry will send its views in writing.
“The governor meeting the FM ahead of interest rate meetings has been a time-honoured and jealously guarded tradition. It ensures no
