.....Brewing between Mumbai’s Mint Street (the Reserve Bank headquarters) and Delhi’s North Block (the finance ministry) is a turf war of mammoth importance. That’s not just because this finance ministry has been at odds with the central bank over its decision to keep interest rates high to fight inflation. Earlier battles too have gone down in history. For instance, former RBI governor Y.V. Reddy’s steadfast stance against the finance ministry push on capital account convertibility saved India from a worse fate in the 2008 global financial crisis.......
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