 "RBI vs Govt")
The sovereign is the supreme and the government is its executive agent. One must appreciate the autonomy of the Indian central bank in that context. Period. Also, its board has the power to shift from its traditional advisory role to a more active supervisory role. Period.
The board draws the power from two sections of the Reserve Bank of India (RBI) Act.
Section 7 (2) says, “subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Central Board of Directors which may exercise all powers
The board draws the power from two sections of the Reserve Bank of India (RBI) Act.
Section 7 (2) says, “subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Central Board of Directors which may exercise all powers
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