Business Standard

Friday, January 03, 2025 | 07:33 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

<B>Letters:</B> RBI not independent

Reddy must remember that the RBI has autonomy and not independence

Image
Premium

Sukumar Mukhopadhyay New Delhi
With reference to “I would have resigned if overruled on demonetisation: Reddy” (January 14), the statement of former Reserve Bank of India (RBI) Governor Y V Reddy on the autonomy of the central bank cannot be supported when subjected to logical scrutiny. Talking vaguely and even emotionally (“I would have admitted myself in hospital”) does not match the RBI’s powers. He says “currency is our domain”. Next he says he would have told the government that demonetisation was its call and “the RBI has to implement”. That is exactly what the government has done by deciding to resort to demonetisation

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in