Despite the bitterness recently seen between North Block and Mint Street, banking secretary Rajiv Takru says the government and the Reserve Bank have always been on the same page.
"Reserve Bank of India (RBI) and government are one. We never think of ourselves as different from the RBI. Whatever RBI has done is a step in the right direction. The market sentiment is not a guide of anything because in the past we have had reverse sentiments also which were quite unjustified but the markets have reacted positively and I am very hopeful that things will look up," he told CNBC-TV18 in an exclusive interview.
Commenting on the downgrade of 11 Indian banks by rating Moody’s, Takru said: "I don't think we react on the basis of what Moody’s does and government has been on the job for quite some time, as all of you are aware, and as far as we are concerned we are keeping a very close watch on the PSU banks and the private sector banks."