RBI Vs Finance Ministry

.....Certain important facets emerge from this instance. First—the fact that probably the Reserve bank of India is the only institution in India that has hitherto not succumbed to the pressure of the ruling class. While there may have been certain aberrations on certain occasion, but in majority of the cases it has remained insulated— something that other organizations like the CBI, SEBI etc despite their being proclaimed as autonomous/statutory bodies have not remained insulated from political influences. In fact, D Subbarao’s predecessor Y V Reddy too refused such a demand coming from the Government to slash interest rates................

Read -The Sentinel, Assam