RBI's tasks to rise manifold with growing NBFCs, digi-platforms: Rangarajan

He also said note ban controversy could have been avoided, had officials been better prepared

Former Reserve Bank of India (RBI) Governor C Rangarajan on Friday called for an eternal vigilance in seeking to preserve the Central Bank's autonomy and said its ability to perform its functions must not be compromised.

"Autonomous institutions with specific mandates are an integral part of democracy. The RBI is one such institution in India.Its ability to perform its functions must not be compromised," Rangarajan said while delivering the inaugural address at the All India Reserve Bank Employees Association's (AIRBOA) 32 national conference in Hyderabad.

Accountability goes with autonomy and accountability requires clear enunciation of objectives of the mandate. Institutional arrangements must