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RBI vs govt: No Governor since 1935 seems to have understood 'independence'

It might be a good idea to remind the Governors of Montagu Norman's view that the relationship between the government and the central bank should be that of a 'Hindoo marriage'

Topics
Rbi Vs Government  |  Reserve Bank Of India  |  Rbi Governor

T C A Srinivasa-Raghavan 



T C A Srinivasa-Raghavan

In the past few days, we came across rumours of (RBI) set to resign if the government kept ordering the RBI about — the Centre is empowered to do so under Section 7 of the RBI Act. Indeed, thanks to an ill-informed media, this section has now come to be loathed, just as Article 352 of the Constitution which allows the imposition of an emergency.

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First Published: Thu, November 01 2018. 12:05 IST

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