RBI Vs Govt

Instead of future-proofing gains, atmosphere to go easy on the pedal ensued, says his book

An exclusive excerpt from A K Bhattacharya's 'The Rise of Goliath'

The committee has recommended a periodic review of the RBI's economic capital framework, according to a source

The import of academics without any government experience at top Indian institutions was based on the belief that a mere knowledge of academic economics would be enough to serve in government

According to central bank sources, the government had sent three letters to the RBI before October 10 with nearly a dozen demands, which were replied to within a week

Both the RBI and the MoF are responsible for the humungous mess of bad loans in public sector banks, the disastrous train wreck called IL&FS, and the blunder called demonetisation

RBI autonomy, though a must, has to go hand in hand with a clear structure of accountability

With apologies to Oscar Wilde, losing one RBI governor may be regarded as a misfortune; losing two would have looked like carelessness

The first lesson to learn from this brinkmanship is that the RBI and the govt must always talk their differences out, and it is the RBI's job to convince the govt that it is doing the right thing

Chidambaram accused the government of "meddling" with the methodology of calculating the GDP numbers

Let us hope that the committee that will examine the adequacy of capital and reserves for the RBI will resolve issues such as sources for funding of shortfall

It is true that any relaxation of prompt corrective action (PCA) would result in enhanced flow of credit

Banking system liquidity is in deficit in this holiday-shortened week and will get a hand from the RBI's open market operations, according to DBS

In a series of tweets, the former finance minister also claimed that the government and RBI was heading towards a "confrontation" in the Monday's board meeting of the bank

Patel and his four deputies will present a united front, while a few independent directors too are expected to support the central bank's mission to clean up bank balance sheets

As part of the reconciliation process, each side will have to cede a bit, Bajaj said

Talks come ahead of the meeting of the RBI's central board on November 19

The meetings, which some said also included with the Prime Minister, came amid a face-off between the central bank and the finance ministry

Gandhi urged RBI Governor Urjit Patel to 'stand up' to the prime minister and 'protect the nation'