.......The tensions between the RBI and the finance ministry actually have their origins in the post-2008 downturn, when Subbarao unsuccessfully opposed finance ministry's move to head the Financial Stability & Development Council (FSDA), formerly an RBI preserve. Perhaps in a bid to get a firmer grip on the RBI, the government has also amended the RBI Act to have two representatives on the RBI board instead of one as before. "The animosity between the two has come down to the level of trying to micro-manage banks, an area exclusive to RBI," says the CEO of a public sector bank on condition of anonymity........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment